Emirates Airlines ends its deal with Sri Lanken Airlines
Published: 18/07/08
Emirates Airlines has announced to the Sri Lanken government that it will be pulling out of the contract for the island nation’s flag carrier.
Emirates Airlines is also said to be selling its 43.6 percent share of the business. If Emirates do sell their share in the company this will open up a great lucrative franchise opportunity in South Asia for other foreign airlines to invest.
Tim Clark, president of Emirates and managing director of Sri Lankan Airlines said: “Management control of Sri Lankan Airlines will pass to the government of Sri Lanka. “The government was seeking greater control over the day-to-day business of the airline, which was not acceptable to us. We just felt that wasn’t compatible with what we wanted to do and it was best that we agreed amicably to let the agreement lapse and give them a chance to take back control of the company.”