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SriLankan Airlines posts profit
November 2005 116

Chairman of SriLankan Airlines, JMS Brito, paid tribute to his staff and management team who have worked through successive crises in the past year to see the carrier through to profit.

“This performance cannot be measured or quantified in financial teams, and 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 times of greatest crisis in the aftermath of the tsunami of December 26,” he said.
A net profit of Dh5,132,741 ($1.4 million) was recorded by the carrier for the financial year 2004/5, down 75.58 per cent, but officials say this figure has also been affected by the continuing rise in the price of aviation fuel. “Our expenditure on fuel has risen by more than 70 per cent, and every one US cent increase in oil adds a $1 million surcharge to our operating costs,” explained CEO Peter Hill. “However, despite these circumstances, we have achieved a modest profit and this is largely due to the dedication of every one of our staff. Overall, revenues have risen 15.08 per cent while passenger numbers were up 17.48 per cent, even despite the huge drop experienced in the months immediately after the tsunami.”

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