US $ 500 m for SriLankan, Mihin Lanka

The government will be infusing US $ 500 million over the next five years for national carrier, SriLankan Airlines and budget airline Mihin Lanka to enable these carriers to acquire new aircraft.

Addressing a media briefing, Information Minister Keheliya Rambukwella said a consortium of state institutions will give away the capital and this amount will be around one percent of gross domestic product.

SriLankan Airlines and Mihin Lanka are managed together and capital injection would curtail the interest cost of the two carriers.

At present, the SriLankan Airlines fleet consists of 17 aircraft and it is expected to increase the fleet upto 23 by 2014.

IH