UL suspends coupon payments to intl. bondholders

SriLankan Airlines has announced that it has requested a 12-month suspension of debt service payments for bondholders of $ 175 million Bond (Maturity at 2024), which covers two coupon payments due on 25 December 2022 and 25 June 2023.

State-owned national carrier SriLankan lost Rs. 112.8 billion in the first half of the 2022/2023 financial year.

SriLankan Airlines Group recorded a loss of Rs. 49.7 billion for 2020/21 and a further loss of Rs. 171 billion in 2021/22. The accumulated loss amounts to Rs. 542.5 billion as of 31 March 2022.\