A Japanese consortium in partnership with Sri Lankan business tycoon Harry Jayawardena is likely to buy a 49% stake in SriLankan Airlines, Sri Lanka’s cash-strapped national carrier.
The Japanese consortium consists of All Nippon Airways Co., Ltd. (ANA), he largest airline in Japan and Japan Airlines (JAL) , the country’s second largest.
Informed government sources said the Japanese group partnered with Jayawardena is now the front-runner for the deal.
Their mission is to transform the SriLankan Airlines into a financially viable business entity while the government controls 51% share of the company.
The Japanese group has already held a discussion with Prime Minister Ranil Wickremesinghe and other key state authorities.
“The discussion was positive. They seem to have a viable plan to resurrect the airline which has been driven to the ground over the past few years,” a highly placed government source said, on Monday.
Harry Jayawardena has served as the Chairman of SrLankan Airlines when the national carrier was a profitable entity.