JKH-Hayleys-Spence consortium to run SriLankan?

Thursday, 23 May 2024 03:08 - - {{hitsCtrl.values.hits}}

Speculated move as part of broadening the scope of restructuring of national carrier amidst poor global response
Cabinet gives nod for shortlisting of Air Asia Consulting, Hayleys and Supreme Global Holdings/Sherisha Technologies in original RFQ exercise

A consortium comprising top blue chips John Keells Holdings, Hayleys and Aitken Spence is to be considered to majority own and manage national carrier SriLankan Airlines, Daily FT learns.

This speculated development follows a decision to enlarge the scope of the planned restructuring cum divestiture of state ownership of the national carrier. This proposal if pursued will see Treasury retaining 49% as part of taking over $500 million of debt of the national carrier.

The speculation of home grown consortium also comes in the aftermath of poor global response to the original Request for Qualification for the sale of entiretyof State holding in the national carrier.

The Daily FT learns Cabinet of Ministers at its meeting yesterday approved the shortlisting of three parties from the original RFQ process.

They are Air Asia Consulting of Malaysia, Hayleys PLC and Supreme Global Holdings/Sherisha Technologies Ltd., which has claimed backing by Qatari funding and an agreement with MMAG Holdings Bhd’s wholly-owned subsidiary MMAG Aviation Consortium Sdn Bhd (MAC).

The others who responded and shortlisted for RFQ were FitsAir, Dharshaan Elite Investment Holding Ltd., ., and Treasure Republic Guardians Ltd.