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The Presidential Commission of Inquiry into the operations of Sri Lankan and Mihin airlines has revealed corruption, malpractice and political interference.
Pulling no punches, the Commission in its final report made a recommendation that the findings be taken seriously, asking for politicians not to ruin professions with “narrow minded thinking and ideas.”
One of the most striking revelations were the accumulated losses of Mihin Airlines – a total of Rs. 17 billion from 2007 to 2016, when the airline was discontinued.
This is not the first time the operation of the national carriers has made the news – in 2016, Sri Lanka paid USD 170 million to aircraft leasing company AerCap Holdings, in order to cancel the purchase of 4 A350 aircraft purchased by the previous regime.
As far back as 2011, the Committee on Public Enterprises noted that “improper financial planning” was resulting in heavy losses to the State over consecutive years, via a number of institutions including Sri Lankan Airlines.
In light of the fresh revelations, Groundviews looked at what the accumulated losses of Mihin Airlines could have purchased instead.
Download the infographic here, or scroll below.
