Financial Daily from THE HINDU group of publications
Saturday, Nov 12, 2005
Financial Daily from THE HINDU group of publications Saturday, Nov 12, 2005 |
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Airlines Sri Lanka in talks for one more flight to Chennai Our Bureau
Bangalore , Nov 11 SRI Lanka is negotiating with India for starting one more daily flight to Chennai. The SriLankan Airlines Regional Manager for Sri Lanka and the Indian sub-Continent told newspersons on Thursday that one more daily flight will increase the frequency of flights to Chennai to thrice a day. The airline currently operates 15 flights every week. Indian carriers, Jet Airways, Indian Airlines and Air Sahara operate single flights every day to Colombo. The airline is also in talks with its equity partner Emirates Airlines to extend the management contract for 10 more years. The current contract gets over in 2008. Emirates Airlines has a 43 per cent stake in SriLankan Airlines while the Sri Lankan Government has a 51 per cent stake and the rest are with the employees. Mr Prabaharan said there was a 76 per cent drop in net profits to around $14 million in 2004-05 because of the tsunami tragedy and the increase in fuel prices.
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