Home / BUSINESS / Sri Lanakan achieves record revenue of US$ 830 mn in 2017/18

Sri Lanakan achieves record revenue of US$ 830 mn in 2017/18

Sri Lanka’s national carrier, SriLankan Airlines on Monday said it had achieved a record un-audited annual passenger revenue of Rs. 126.9 billion (US Dollars 830.7 million) for its just ended financial year of 2017/18 – the highest ever in the Company’s 38-year history.

The revenue comes on the back of recent expansion of the airline to include services to several new destinations such as Gan Islands, Hyderabad and Melbourne and additional frequencies to popular cities in its network.

The airline’s cargo division recorded a spectacular performance – achieving a revenue of Rs. 14.7 billion on its own. Both passenger and cargo divisions exceeded their annual target, enabling the SriLankan Airlines Group – bolstered by an even stronger performance at its best performing business unit SriLankan Ground Services – to comfortably exceed the overall annual revenue target.

The overall Group turnover exceeded one Billion US Dollars, making SriLankan one of the handful of companies in Sri Lanka to reach this milestone. It also becomes the highest revenue generating company amongst all Sri Lankan businesses which publicly report their financials.

Commenting on the achievement, SriLankan Airlines Chief Executive Officer, Captain Suren Ratwatte said this is the first instance of the airline achieving its annual revenue target since Emirates Airline left as the managing partner ten years ago.

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