The other members of the committee are as follows:
• Senior Presidential Economic Advisor Duminda Hulangamuwa
• Financial and corporate strategy expert Deshal De Mel
• Transaction and investment banking, mergers and acquisitions expert Dumith Fernando
• The Secretary to the Ministry of Finance or his Representative
• The Secretary to the Ministry of Transport, Highways and Urban Development / a representative of the Civil Aviation Authority
• The Chairman of Sri Lankan Airlines
• Legal experts with specialized knowledge in corporate, aviation and public law
• Aviation industry experts to be appointed
The Government has recognized the urgent priority of undertaking a comprehensive strategic review of Sri Lankan Airlines, taking into account the broader macroeconomic context. The main objective of this exercise is to establish a financially sustainable and commercially efficient national carrier, while reducing the long-term fiscal burden on the Government.Accordingly, it has been deemed appropriate to establish a dedicated committee to carry out the strategic review and restructuring process in collaboration with the International Finance Corporation (IFC), which is serving as the Transaction Advisor.
The committee will be responsible for:
• Conducting an independent review and assessment of the airline’s strategic direction and future course of action
• Recommending restructuring requirements and possible restructuring models
• Evaluating specific strategic options and identifying the most suitable course of action aligned with the Government’s overall objectives
• Providing oversight, guidance and support for the implementation of the selected strategy and execution framework determined by the Government
The committee will function for the duration of the strategic review and restructuring process, or until it is formally dissolved by the Government of Sri Lanka.
