In a significant step towards privatizing Sri Lanka’s national carrier, SriLankan Airlines, the Cabinet of Ministers has shortlisted three prominent companies from an initial pool of six bidders. This move marks a pivotal moment in the long-running efforts to privatize the airline.
The shortlisted companies are Sherisha/Supreme Global Consortium, Air Asia Consulting, and Hayleys PLC. These selections come after careful consideration and evaluation of the bidders’ proposals and capabilities.
Following the shortlisting, the potential bidders indicate that the Government has progressed in the privatization process of the national carrier, which was uncertain following several deadline extensions for proposal submissions for the acquisition of SriLankan Airlines.
Sherisha/Supreme Global Consortium is an alliance between Supreme Global Holdings and SHERISHA TECHNOLOGIES PRIVATE LIMITED, with substantial backing from MBS Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani of Qatar. Supreme Global Holdings, led by R.M. Manivannan, is known for its substantial contributions to Sri Lanka’s economic stability, including extending credit during the recent energy crisis. The consortium’s strategic and financial potential aims to redefine the future trajectory of Sri Lankan Airlines, enhancing its international competitiveness.
Meanwhile, Air Asia Consulting is a well-established name in aviation consulting, known for its expertise in airline operations, strategic planning, and turnaround strategies. Their involvement suggests a focus on operational efficiencies and expansion into new markets, promising a fresh perspective on the management and growth of Sri Lankan Airlines.
The third candidate, Hayleys PLC, is one of Sri Lanka’s largest diversified conglomerates, with interests spanning agriculture to transportation and logistics. Their inclusion in the shortlist brings a deep understanding of the local business landscape, potentially enhancing the operational logistics and domestic connectivity of the airline.
SriLankan Airlines has been identified as one of the biggest loss-making state-owned companies in Sri Lanka. With nearly 6,000 staff, the national carrier announced a $525 million loss for last year. SriLankan Airlines has been one of the biggest burdens on the country’s budget and is widely viewed as a white elephant.
