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  • Originally posted by lordvader View Post
    http://www.sundaytimes.lk/160327/col...ed-187767.html

    Think you could be on the money unless they commit to pump in another $1 billion USD to clear the balance sheet (as per the above link).
    There could be # of new airlines could be launched for a faction of billion dollars. EK was $10million dollars in 1985...air arabia was 10million dollars to name few

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    • Originally posted by Sandaru View Post
      I'm wondering about this too!!, Publicity to SriLankan A350XWB from Airbus is 0% till this moment when comparing to other #1 A350XWB aircrafts of other carriers. UL is one of the first 10 carriers operating A350XWB.
      SriLankan's first A350 / MSN52 when the aircraft was at Station 40 for FAL

      KGUy3_Capture

      source: 6play

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      • Beauty!!!

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        • Originally posted by Speedbird View Post
          There could be # of new airlines could be launched for a faction of billion dollars. EK was $10million dollars in 1985...air arabia was 10million dollars to name few
          Well UL's debt is apparently around $1 billion so if UL is unable to service said debt, the government as the ultimate owner of UL will need to cover the amount unless they put the company into liquidation. However if they do that then no supplier would ever touch another airline from Sri Lanka.

          That said they could theoretically transfer select liabilities (such as aircraft and non excess staff) to a new company and restart the airline as a Public Private Joint Venture - like what Malaysia did with MH. This might be what Ejanson alluded to above?

          Honestly anything is possible these days!
          Last edited by lordvader; 27-03-2016, 11:15 PM.

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          • Originally posted by lordvader View Post
            Well UL's debt is apparently around $1 billion so if UL is unable to service said debt, the government as the ultimate owner of UL will need to cover the amount unless they put the company into liquidation. However if they do that then no supplier would ever touch another airline from Sri Lanka.

            That said they could theoretically transfer select liabilities (such as aircraft and non excess staff) to a new company and restart the airline as a Public Private Joint Venture - like what Malaysia did with MH. This might be what Ejanson alluded to above?

            Honestly anything is possible these days!
            Honestly I believe government should get out airline and airport business...

            Lets look at scenarios

            1. Closing down the airline

            This will be a political suicide to the current government...imagine over 6000 employees out of jobs. MR and gang would go to town complaining that current administration made over 6000 unemployed.

            2. Injecting over $1.3 bn (new Capital)

            with so many debt GOSL is unable to borrow any more money. For Country like Sri Lanka 1.3 bn is a extremely big money. Again new capital would not do any benefit to the airline; unless airline trims its operational costs...i.e. trimming the workforce by at least 30%. If that does not take place in about 5 Years airline need further capital injection.

            3. Closing down and relaunch

            it would be like Air Ceylon 3.0 and 10 years later requesting more capital

            4. Looking for a foreign partner

            No airline is going to touch this airline at current state

            What I would do
            Sell catering and ground handling. this would cover nearly 10% debt and close this airline.

            Sell CMB and RML to 2 different entities (will induce competition and bring the landing cost down...then more airline will fly to SL)
            Revamp Ceylon Petroleum Corp; Jet A 1 fuel business (currently most expensive Jet fuel in Asia)

            ^^^thats what I would do...it would never happen coz politicians are politicians

            Comment


            • UL is technically bankrupt according to auditors as total liabilities exceed total assets.

              The entity requires bold decisions to restore administrative and financial discipline within the top management and a policy of zero tolerance for any conflict of interest.

              What UL needs is an honest and professional hands-on management and all transactions subject to transparency and strict audit with emphasis on improving human resources and weeding out inefficient members.

              UL needs to rearrange the fleet and network by reviewing the schedule, frequency and timing of flights, and looking at which destinations were working and which were not.

              UL over relied on short haul traffic, the long haul network it does have is not robust.

              There is a strong future for UL if it can implement a deep restructure and embark on a new strategy, UL needs to refocus and be reinvigorated and the challenge is to transform a culture and deliver.

              The routes, aircraft, seats and marketing plans flagged under the restructuring plan are not bold, despite being overdue, and in response to the "desperate" situation.

              A vision for Sri Lankan is lacking, despite many opportunities it sits on.

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              • Originally posted by Max View Post
                UL is technically bankrupt according to auditors as total liabilities exceed total assets.

                The entity requires bold decisions to restore administrative and financial discipline within the top management and a policy of zero tolerance for any conflict of interest.

                What UL needs is an honest and professional hands-on management and all transactions subject to transparency and strict audit with emphasis on improving human resources and weeding out inefficient members.

                UL needs to rearrange the fleet and network by reviewing the schedule, frequency and timing of flights, and looking at which destinations were working and which were not.

                UL over relied on short haul traffic, the long haul network it does have is not robust.

                There is a strong future for UL if it can implement a deep restructure and embark on a new strategy, UL needs to refocus and be reinvigorated and the challenge is to transform a culture and deliver.

                The routes, aircraft, seats and marketing plans flagged under the restructuring plan are not bold, despite being overdue, and in response to the "desperate" situation.

                A vision for Sri Lankan is lacking, despite many opportunities it sits on.
                Dude you just plagiarized http://tribune.com.pk/story/1039855/...ake-off-again/

                and



                and changed PIA and Asiana to UL??

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                • Originally posted by lordvader View Post
                  Well UL's debt is apparently around $1 billion so if UL is unable to service said debt, the government as the ultimate owner of UL will need to cover the amount unless they put the company into liquidation. However if they do that then no supplier would ever touch another airline from Sri Lanka.
                  There is a further $2 Billion + in future liabilities. Taxpayers will be on the hook for this as well.

                  It's not correct that a liquidation will result in suppliers refusing to do business with any Airline in Sri Lanka.

                  Business is business.

                  In this case Airlines will need to pay a premium for things like leases and they may be put on a "cash only" basis for parts - it's not a deal breaker of any kind.

                  I've sub contracted to a Nigerian Airline that didin't pay anyone on time (including their own staff). Some nights we couldn't get fuel as the bills hadn't been paid - they literally paid for one bowser at a time! They were on a cash basis with most suppliers - but continued to operate.

                  My company took an A340-500 in lieu of payments!
                  Last edited by ejanson65; 29-03-2016, 06:37 AM. Reason: added text
                  Always fly a stable approach - it's the only stability you'll find this business

                  Comment


                  • Originally posted by dilushasg-bdavi View Post
                    https://sites.google.com/site/a350xw...roduction-list

                    msn 52 is undergoing outdoor ground tests
                    UL's first A350 (MSN52) had been parked in the P18 since 17-Mar for ground tests which normally takes upto two weeks then it will be moved to A380site for Rework.

                    Comment


                    • Originally posted by banuthev View Post
                      Hi Thofboss, Did you managed to spot SriLankan's first A350 (F-WZFA/MSN52) in Toulouse? I heard that you can spot the aircraft if you go to Avenue Jean Monnet. Looking forward to see your pics.

                      Happy Easter !
                      Hi got somes pics for you my friends Tell me if you want more and see you soon @THOFBOSS https://flickr.com/photos/131621852@...57666596846865

                      Comment


                      • Originally posted by Thofboss View Post
                        Hi got somes pics for you my friends Tell me if you want more and see you soon @THOFBOSS https://flickr.com/photos/131621852@...57666596846865
                        Wow!! when did you take these pictures? Any idea when it will be rolled out to A380site for rework. Looking forward to see more pictures. thanks a lot.

                        Comment


                        • Originally posted by Thofboss View Post
                          Hi got somes pics for you my friends Tell me if you want more and see you soon @THOFBOSS https://flickr.com/photos/131621852@...57666596846865
                          Thanks mate for the photos. Can't wait to see her fully painted.

                          Also thanks to banuthev for the earlier picture of the bird in the FAL

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                          • Originally posted by ejanson65 View Post
                            There is a further $2 Billion + in future liabilities. Taxpayers will be on the hook for this as well.

                            It's not correct that a liquidation will result in suppliers refusing to do business with any Airline in Sri Lanka.

                            Business is business.

                            In this case Airlines will need to pay a premium for things like leases and they may be put on a "cash only" basis for parts - it's not a deal breaker of any kind.
                            Your right about this. I stand corrected

                            Originally posted by ejanson65 View Post
                            I've sub contracted to a Nigerian Airline that didin't pay anyone on time (including their own staff). Some nights we couldn't get fuel as the bills hadn't been paid - they literally paid for one bowser at a time! They were on a cash basis with most suppliers - but continued to operate.

                            My company took an A340-500 in lieu of payments!
                            Thats insane! (insanely good for your employer though)

                            Comment


                            • Originally posted by Thofboss View Post
                              Hi got somes pics for you my friends Tell me if you want more and see you soon @THOFBOSS https://flickr.com/photos/131621852@...57666596846865
                              Hi Thofboss! Thanks for the pictures!! Yes we want more!!!!

                              Comment


                              • Originally posted by Thofboss View Post
                                Hi got somes pics for you my friends Tell me if you want more and see you soon @THOFBOSS https://flickr.com/photos/131621852@...57666596846865
                                Hi Digitalairliners, Any idea what's going to happen next for MSN52 (A350)? I am wondering why its been parked in the ATR delivery centre according to your report as per 29-30-March?

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