|
|
|
| Sunday, 25 September 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
SriLankan Airlines Group posts Rs 1,376.07m net profit SriLankan Airlines Group posted a Net Profit after Tax of Rs. 1,376.07 million for the financial year 2004/05, despite multiple crises such as the tsunami and skyrocketing fuel prices, which sharply affected its revenue and expenditure. "The performance of the SriLankan Airlines Group during the financial year 2004/05 cannot be measured or quantified in rupees and cents. I am proud to say that the SriLankan Airlines Group and its staff proved to be a tremendous source of strength for the nation during its time of greatest crisis in the aftermath of tsunami on December 26. Apart from providing services free for affected foreign tourists to return home, and handling the unloading of tens of thousands of tonnes of life-saving supplies, SriLankan Airlines organised relief and reconstruction efforts on the devastated southern and eastern coastlines, which continue to this day," said J. M. S. Brito, Chairman, SriLankan Airlines. Tourism numbers plummeted following the tsunami, and had a direct adverse impact on the company's bottom line. In addition, the global airline industry as a whole was seriously affected by the skyrocketing price of aviation fuel. The Company's Fuel Cost increased by 71.49% on the back of a 41.36% increase in average fuel prices, and a 15.96% increase in consumption required by the Airline's expansion. In real terms, an increase of one US cent per gallon translates into an added expenditure of US 1 million per annum for SriLankan. "In spite of all this we have achieved a modest profit, which bears testimony again to the remarkable resolve and dedication of the management and staff of the Company", said Tim Clark, Managing Director. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
