Tim Clark, President Emirates Airline and Managing Director Sri Lankan Airlines stated: "Emirates has notified the Government of Sri Lanka that it will not be renewing the Shareholder's Agreement which expires on 31st March 2008 and accordingly, with effect from 1st April 2008, management control of Sri Lankan Airlines will pass to the Government of Sri Lanka. Emirates will continue to manage the Company until 31st March 2008. Emirates will also retain its 43.6% equity in the Company for the time being, and continue to have a Board presence."

Date posted: 07-Jan-08