Sri Lanka Aviation
Mobile View

 

 

News Headlines..
   



 

+ Reply to Thread
Page 484 of 491 FirstFirst ... 384 434 474 482 483 484 485 486 ... LastLast
Results 9,661 to 9,680 of 9806
  1. #9661

  2. #9662
    Quote Originally Posted by Speedbird View Post
    Here is an another one

    One of the VP s for Credit Suisse is a Sri Lankan with Singaporean residency. I know him very well. He is the cousin of Kabir Hashim's wife (I notice a conflict of interest). He mentioned to me we are structuring a loan for UL; I said ok what is the interest rate. He mentioned to me well let's not talk about interest rate...i.e. well above the market rate.

    Without closing this money hemorrhaging airline; GOSL want run it. Minister/Kabir Hashim needs money to run the airline.

    Treasury has stopped giving funds so now they are trying to get funds from anywhere at any cost...just prolonging the inevitable

    http://www.dailymirror.lk/article/Cr...er-142903.html
    Someone at Credit Suisse is in for a swift change of employment!

    Given the state of the Airline (and the country) I'm surprised anyone would lend money to them. There is no way any of this will ever be paid back - citizens are going to have to eat this loan on top of all the others.

    I'm sure that they are paying huge interest on this money due to the high risk involved.

    It's not going to change anything except now there's an increased risk of the entire banking system being dragged under as well.
    Always fly a stable approach - it's the only stability you'll find this business

  3. #9663
    Senior Member channa's Avatar
    Join Date
    May 2013
    Location
    Toronto, Canada
    Posts
    109
    Quote Originally Posted by ejanson65 View Post
    Someone at Credit Suisse is in for a swift change of employment!

    Given the state of the Airline (and the country) I'm surprised anyone would lend money to them. There is no way any of this will ever be paid back - citizens are going to have to eat this loan on top of all the others.

    I'm sure that they are paying huge interest on this money due to the high risk involved.

    It's not going to change anything except now there's an increased risk of the entire banking system being dragged under as well.
    Very sad situation for our flag carrier. State sponsored bunch of crooks ruining the National Airline.

  4. #9664
    Quote Originally Posted by ejanson65 View Post

    I'm sure that they are paying huge interest on this money due to the high risk involved.
    Yes Captain Obvious

    It's not going to change anything except now there's an increased risk of the entire banking system being dragged under as well.
    If I remember correctly there is Government guarantee for the loan. So only people who will be affected would be Sri Lankan taxpayer

    Quote Originally Posted by channa View Post
    Very sad situation for our flag carrier. State sponsored bunch of crooks ruining the National Airline.
    https://www.youtube.com/watch?v=Ot4n4txl4Ko

    I am not sure about "your" flag carrier but this is my home and flag carrier ...But I would definitely speak out against BS

  5. #9665

    Talking kabir hashim didn't get any information about director board resign

    https://www.youtube.com/watch?v=mKFXZK6BBTA

    kabir hashim didn't get any information about director board resign
    time code 15.00
    - ada derana

  6. #9666
    Didn't see the below article posted anywhere before:

    The Nyras report says the “Government Officials Committee to approve restructuring plan and quickly review major restructuring decisions (e.g. negotiation offers). Management to provide regular updates on progress of restructuring.” The Board of Directors, Nyras says, “must be prepared to act quickly and be available on an almost daily basis.” It also wants to “Consider appointing an Executive Committee with delegated authority during the restructuring process.”

    The other recommendations by Nyras is “absolute focus of leadership team on delivery of restructuring plan, with personal objectives accountability for each part of the plan. Structured review of process of restructuring implementation.” It also says there should be “clarity of direction and objectives of the restructure, with departmental and personal objectives aligned to delivery.”

    Titled “Restructuring of SriLankan Airlines – Delivering a sustainable future,” Nyras report says:

    We have been asked to develop a plan to assess and implement options for the restructure of SriLankan Airlines (“SLA”) to address challenges associated with legacy and fleet–related debt and consistent operational losses.
    The restructuring plan should be consistent with GoSL objectives such as developing tourism, growing traffic and connectivity, ability to compete with Low Cost Carriers, affordable travel for SriLankan business, travelling public and migrant workers, find suitable partners willing to invest in SriLankan whilst respecting foreign ownership rules, cost effective airline and impact on jobs for the Sri Lankan economy.
    We worked previously with SLA between January and March 2016, so have a good understanding of the airline’s challenges. We worked closely with airline management and staff, reported and explained our findings to the Board and senior Government Officials.
    Our previous work also investigated the practicalities of an administration / “Chapter 11” scenario, assessed SLA’s competitive disadvantage caused by high fuel price, and estimated the impact on Ceylon Petroleum Corporation if it reduces prices to market levels. Note: Chapter 11 is a chapter of Title 11 of the United States Bankruptcy Code, which permits reorganisation under the bankruptcy laws of that country.
    Some of the issues have since been addressed, but the major structural issues remain.

    The timeline for this assignment, Nyras says is to address the most pressing concerns by the end of March 2018. It has identified eight different areas for the restructuring process. Among them are:
    Re-negotiate four remaining A 350s and Rolls Royce engines to avoid US$ 800 million liability by converting A 350 order into A 321s for deployment on restructured network.

    Re-finance seven A330s Lease rates are way over market and refinancing ensures market rate aircraft economics delivering $ 28 million per year but finance/equity required for $ 160 million deposit.
    Re-structure SLA Group to enable investment into airline and SBUs to deliver cash to airline restructure debt, saving $ 41 million per year, improve operations and improve competitiveness.

    Reduce Ceylon Petroleum Corporation pricing by ten US cents per gallon to address lack of competitiveness and increase volumes to other airlines delivering $ 8 million per year.
    Improve commercial activities and streamline distribution to deliver greater yield and revenue opportunities.

    The “absolute priorities,” Nyras says are negotiations with Airbus, Rolls Royce and Lessors, Develop Business Plan to support negotiations, Resolve Ceylon Petroleum pricing, develop future fleet structure and identify investors for A 330 – 300s.
    It is abundantly clear from the Nyras report that over the years there has been serious deficiencies in managing the national carrier. So much so, the consultant firm is even noting the need to consider declaring bankruptcy.
    http://www.sundaytimes.lk/171224/col...22-274422.html

  7. #9667
    Most people not in favour of selling SriLankan Airlines: Poll

    http://www.sundaytimes.lk/171231/bus...ll-275178.html

    Sri Lankan newspapers should seriously think of hiring people with better knowledge on aviation.

    UL liabilities - US$ 3 billion

    The official estimate of what Sri Lanka currently owes its financiers is $64.9 billion, The country's debt-to-GDP currently stands around 75% and 95% of all government revenue is currently going towards debt repayment.

  8. #9668

  9. #9669
    Quote Originally Posted by lordvader View Post
    Didn't see the below article posted anywhere before:

    The timeline for this assignment, Nyras says is to address the most pressing concerns by the end of March 2018. It has identified eight different areas for the restructuring process. Among them are:
    Re-negotiate four remaining A 350s and Rolls Royce engines to avoid US$ 800 million liability by converting A 350 order into A 321s for deployment on restructured network.

    http://www.sundaytimes.lk/171224/col...22-274422.html
    Is it good idea UL converting Four x A350 order into A321 ? If they convert then will they get around Eight A321neo's from Airbus. List price of A321neo is $127M and A350-900 is $311M.

  10. #9670
    Quote Originally Posted by banuthev View Post
    Is it good idea UL converting Four x A350 order into A321 ? If they convert then will they get around Eight A321neo's from Airbus. List price of A321neo is $127M and A350-900 is $311M.
    I think its better to have long haul aircraft without going into A321s. When A330s phase out, might turn to be a problem for long haul routes. So I don't know, my opinion would be that better not going for anymore A321neo aircraft, either A330 or A350 would be ideal.

  11. #9671
    Quote Originally Posted by Haleef View Post
    I think its better to have long haul aircraft without going into A321s. When A330s phase out, might turn to be a problem for long haul routes. So I don't know, my opinion would be that better not going for anymore A321neo aircraft, either A330 or A350 would be ideal.
    Maybe replace the A350 order with A330NEO

  12. #9672
    Quote Originally Posted by dilushasg-bdavi View Post
    Maybe replace the A350 order with A330NEO
    True. That is a great aircraft after the A350

  13. #9673
    Quote Originally Posted by Haleef View Post
    I think its better to have long haul aircraft without going into A321s. When A330s phase out, might turn to be a problem for long haul routes. So I don't know, my opinion would be that better not going for anymore A321neo aircraft, either A330 or A350 would be ideal.
    The leases of seven A330-300s are going to expire in 2026. Also UL have extended the leases of four A330-200s. So I think UL is not in a hurry to replace wide body fleet. I think UL's current priority to add more flights to India, Gulf, South China and Far East onboard A320/A321.

  14. #9674
    http://www.ft.lk/front-page/Crucial-...oday/44-646432

    The Ministerial Committee on SriLankan Airlines is set to meet today with the resign offer of six members of the SriLankan Board likely to be taken up with expectations of a new board being appointed to make way for restructuring of the troubled business entity, a top official confirmed.

    The Committee headed by the Prime Minister Ranil Wickremesinghe will also carry forward the restructuring discussion on the cash-strapped national airline.

    British consultant Nyras Consulting Company, specialising in the global aviation sector, was appointed to lead the restructuring of the carrier. The consultants, who have been tasked with restructuring and finding an investor for the airline, presented their first report to both committees last month.

    The preliminary report by the consultants outlined a restructuring program under five broad areas - managing the right size and type of aircraft fleet, debt restructuring, tax concessions, network rationalising and fuel price - to restructure and improve its financial position. The consultants had expressed confidence in finding a suitable investor once the restructuring was complete.

    The SriLankan Airlines Board of Management’s offer to resign from their posts came two days after this preliminary meeting. A letter detailing a board decision by six of the seven board members to offer to resign was submitted to the Prime Minister’s office on 22 December 2017, Sri Lankan Chairman Ajit Dias confirmed to the media later.

    However, no decision has been taken on the offer since then. Public Enterprise Development Minister Kabir Hashim and ministry secretary Ravindra Hewavitharana both told the Daily FT that they were not officially informed about the offer made by the board.

    However, it was speculated that the offer to resign may have stemmed from an earlier discussion within the officials committee suggesting that it would be more appropriate to appoint a new board to carry out the changes.

  15. #9675
    Junior Member mohamed_naqeeb's Avatar
    Join Date
    Dec 2010
    Location
    Colombo, Sri Lanka
    Posts
    19
    It looks like Cathay is using thier B777-300ER on every other day to CMB?

  16. #9676
    Senior Member channa's Avatar
    Join Date
    May 2013
    Location
    Toronto, Canada
    Posts
    109
    Quote Originally Posted by Haleef View Post
    I think its better to have long haul aircraft without going into A321s. When A330s phase out, might turn to be a problem for long haul routes. So I don't know, my opinion would be that better not going for anymore A321neo aircraft, either A330 or A350 would be ideal.
    I am thinking the same way. ALA,ALB,ALC,ALD,ALJ and ALH are old air crafts. They need newer A 330 or A 350 to replace them for long haul routes.

  17. #9677
    Senior Member SLD's Avatar
    Join Date
    Jun 2017
    Location
    Kirulapona,Colombo 05
    Posts
    104
    Does any airline fly directly from CMB to Frankfurt Rhein-Main international and Frankfurt Hahn airports? ( FR24 says so)

  18. #9678
    Quote Originally Posted by SLD View Post
    Does any airline fly directly from CMB to Frankfurt Rhein-Main international and Frankfurt Hahn airports? ( FR24 says so)
    Nope...there could be ad hoc charters or seasonal flights

  19. #9679
    Quote Originally Posted by Speedbird View Post
    Nope...there could be ad hoc charters or seasonal flights
    Flight Timetable

    CARGO FLIGHT - CMB-HHN - DEP:15:40 - ARR:21:45 - EY9872 - B77F - MON.FRI (Jan 2018)
    CHARTER PAX FLIGHT - CMB-FRA - DEP:12:40 - ARR:19:20 - DE9423 - B763 - SUN - (14-Jan-2018 only)


    Quote Originally Posted by mohamed_naqeeb View Post
    It looks like Cathay is using thier B777-300ER on every other day to CMB?
    CX is currently utilising B77W on three weekly flights and A333 on four weekly flights. Does CX have good pax demand/yield on CMB route?
    Attached Images

  20. #9680
    Senior Member SLD's Avatar
    Join Date
    Jun 2017
    Location
    Kirulapona,Colombo 05
    Posts
    104
    Quote Originally Posted by banuthev View Post
    Flight Timetable

    CARGO FLIGHT - CMB-HHN - DEP:15:40 - ARR:21:45 - EY9872 - B77F - MON.FRI (Jan 2018)
    CHARTER PAX FLIGHT - CMB-FRA - DEP:12:40 - ARR:19:20 - DE9423 - B763 - SUN - (14-Jan-2018 only)
    What is the airline?

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts