Three candidates on the shortlist to take over troubled SriLankan Airlines – The Island

Author: Sanath Nanayakkare

The Cabinet of Ministers has announced significant progress in the privatization process of Sri Lankan Airlines, as indicated in a press release issued by Kanchana Kodituwakku, Group Communications Director, Supreme Global Holdings.

According to the press release, the government has narrowed the field of potential buyers to three candidates from six bidders. These are namely; Sherisha/Supreme Global Consortium, Air Asia Consulting and Hayleys PLC.

According to a press release, Sherisha/Supreme Global Consortium is a “strong” alliance between Supreme Global Holdings and Sherisha Technologies Pvt Ltd, with significant support from MBS Investments, the investment arm of the private office of Sheikh Nayef Bin Eid Al Thani of Qatar.

The shortlisting is a key step towards revitalizing the troubled airline as many have argued that SriLankan Airlines will not find a credible buyer in the foreseeable future as it is not attractive to any aviation investors.

Below are brief reports on the three companies shortlisted for further involvement in the acquisition process.

Sherisha/Supreme Global Consortium: This consortium is an alliance between Supreme Global Holdings and SHERISHA TECHNOLOGIES PRIVATE LIMITED, with significant support from MBS Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani of Qatar. Supreme Global Holdings, headed by RM Manivannan, is known for its significant contributions to Sri Lanka’s economic stability, including lending during the recent energy crisis. The strategic and financial potential of the consortium aims to redefine the future trajectory of Sri Lankan Airlines, enhancing its international competitiveness.

Air Asia Consulting: A well-established aviation consulting firm known for its expertise in aviation operations, strategic planning and turnaround strategies. Their involvement suggests a focus on operational efficiency and expansion into new markets, promising a fresh perspective on the management and development of Sri Lankan Airlines.

Hayleys PLC: One of Sri Lanka’s largest diversified conglomerates with interests spanning agriculture, transportation and logistics. Their shortlisting provides a deep understanding of the local business landscape, which has the potential to improve the airline’s operational logistics and domestic connections.

Collaboration with these shortlisted entities will be aimed at accelerating the privatization process and ensuring that the future of Sri Lankan Airlines is one of strategic, financial and operational improvements. This initiative is part of a broader effort to stabilize and develop one of Sri Lanka’s most important economic assets.

The Cabinet’s decision reflects a commitment to a transparent and strategic approach to privatization, ensuring the best possible outcome for the airline and its stakeholders. As the process progresses, the implications for regional cooperation, particularly in light of the involvement of international partners such as Qatar, indicate promising prospects for Sri Lankan Airlines and its role in South Asian aviation,” Supreme Global Holdings said.