Colombo, May 12 (PTI) Sri Lankan Airlines, the loss making nationwide service of the island nation, has recorded losses of 163.58 billion Sri Lankan Rupees (roughly 4,000 crore INR) in 2022, greater than 3 times it recorded in 2021, in keeping with an official assertion.

Sri Lankan Airlines in 2021 witnessed a loss in revenues of 49.7 billion Sri Lankan Rupees.

Also Read | Israel Airstrike Kills Top Palestinian Islamic Jihad Commander Iyad al-Hassani in Gaza Strip.

“The Sri Lankan Airlines in 2022 witnessed a loss of 168.58 billion Sri Lankan Rupees while the loss during 2021 stood at 49.7 billion,” the assertion from the nationwide service mentioned.

Sri Lankan Airlines is without doubt one of the 52 loss making state enterprises that the International Monetary Fund had really helpful for restructuring while approving the close to 3 billion greenback bail out facility mid March.

Also Read | Chinese-Built Pokhara Airport in Nepal Fails to Take Off: Report.

The airline in its historical past had solely made earnings between 1998 and 2008 the interval of its administration being vested within the Emirates Airlines.

Immediately after receiving the primary tranche of the IMF bail out, the federal government arrange the state owned enterprise restructuring unit (SRU) below the ministry of finance to divest the companies which were a burden on the financial system.

The SRU was tasked with appointing reputed certified consultancy corporations to hold out the divestiture means of the state enterprises.

The Sri Lankan assertion on losses got here because the IMF workers group arrived on Thursday to verify on Sri Lanka’s progress on the reforms envisaged earlier than its scheduled evaluation in September.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff might not have modified or edited the content material physique)