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Since 1979, SriLankan Airlines has existed as the country’s national airline. Currently the national carrier with a tarnished financial track record, aims to become an economically viable airline with high brand visibility and a global reputation for excellence, while also transforming Sri Lanka into a strategic hub for air travel and cargo in the Asia-Africa-Middle East region. The airline serves a wide range of destinations in Asia, Europe, the Middle East, and Australia.
The biggest challenge for airlines currently is being competitive in an increasingly crowded industry. SriLankan has faced severe competition from other regional carriers such as Emirates, Qatar Airways, and Singapore Airlines, all of which provide greater value-for-money services. SriLankan Airlines has had to work on enhancing its services and implementing new technology, including online booking, user-friendly check-in systems, and in-flight entertainment systems; in order to remain competitive. National carriers have an important role in reflecting their respective countries’ cultural, social, and economic values, especially in a country that prides itself as a tourist destination. They are considered to be a sign of national pride and an extension of the country’s identity. A robust and efficient national carrier is critical not just for the country’s economy, but also for its international prestige.
They are frequently the first point of contact for many international tourists, and therefore national carriers may have a big effect on a country’s foreign visitor experience. An airline that delivers great service would enhance the country’s image and inspire repeat visits in the future. Furthermore, both directly and indirectly, national carriers contribute to providing job opportunities and encouraging economic growth.
SriLankan Airlines aims to establish itself as a strategic hub for air travel in the region. This involves developing partnerships with other airlines, airports, and logistics providers, as well as investing in infrastructure facilities to support the growth of air transportation and freight. To ensure financial sustainability, SriLankan Airlines is adopting a multi-pronged approach, including cost control measures, revenue enhancement strategies, and investment in new revenue streams such as air cargo and ground handling services. The airline also aims to increase its brand excellence by investing in marketing and branding initiatives and by providing high-quality services to its customers.
One difficulty would be attracting and retaining highly qualified and experienced professionals, such as pilots, engineers, and stewards or customer care representatives. This will necessitate major investment in training and development programs, as well as the establishment of competitive compensation and benefits packages, while the talent in the field looks to migrate or relocate. SriLankan Airlines will have difficulty keeping up with the airline industry’s ever-changing technical improvements. To stay current, significant investments in research and development would be required at higher capital investment levels.
Another key part of sustaining a national carrier’s features is to emphasise innovation and adaptation. The airline business is continuously changing, and national carriers must keep up with the newest innovations in technology, managerial methods, and customer service. This necessitates a culture of constant development and an openness to change. Countries should guarantee that their national carriers continue to represent their national pride and identity for future generations by concentrating on transparency, good governance, employee development, and innovation.
Overall, the business model of SriLankan Airlines is centered on providing safe, dependable, and comfortable air transportation services while ensuring financial sustainability and improving customer experience through operational efficiency, new technologies, and partnerships with other airlines and logistics providers. Looking ahead, SriLankan Airlines confronts a number of problems that must be overcome if it is to survive in the highly competitive airline business.