Emirates expected to renew SriLankan Airlines management contract
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(CAPA) Emirates stated it expects to renew its management contract for SriLankan Airlines before the end of the year, following negotiations with the Sri Lankan Government scheduled for Oct-07. The management contract is currently scheduled to expire on 31-Mar-07.
Tim Clark, President of Emirates, has stated the new contract is likely to be for five years, and extendable for a further five. Mr Clark has however ruled out the possibility of raising its 43% shareholding in the Sri Lankan carrier.
Emirates additionally plans to expand SriLankan’s fleet from 14 to up to 30 aircraft within five years, replacing A230s with A321s and phasing out A340 equipment. According to Reuters, Tim Clark confirmed, “the A340s are also getting long in the tooth”.
SriLankan is Emirates’ only investment in a foreign airline. Date posted: 10-Sep-07.
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Emirates expected to renew SriLankan Airlines management contract
