The Sri Lanka government has successfully concluded discussions to buy back 43 percent of SriLankan Airlines from Emirates Airline, it was reported on Sunday.
Emirates declined to comment on reports from Sri Lanka quoting SriLankan chairman Nishantha Wickremesinghe as saying discussions had been “very fruitful”.
“I am aware that discussions had been held both in Dubai and Colombo and they had been very fruitful,” Wickremesinghe said in comments published by Lanka TImes.
He said he expected the price to be “very reasonable” but did not add further details.
Wickremesinghe said that it was important that government had near 100 percent control of the airline for its further development.
Emirates Airline on Sunday declined to comment further.
Emirates CEO and chairman Sheikh Ahmed said last month at a press conference: “We have previously said that we would be open to discussion if there was serious interest from other parties. We can confirm that the Sri Lankan Government has been investigating the possibility of increasing their share in Sri Lankan Airlines.”
It was also reported last month thaty Emirates has been trying to sell all or part of the stake since 2008, which had previously been valued at about $150 million and for which it paid $70 million in 1998. It is Emirates’ only investment in another airline.
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