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Part 5: Errors of Judgement, IMF, and Potential Solutions to Avoid Bankruptcy -A candid study and an action plan Economic and social development for Sri Lanka – By Professor Sunil J. Wimalawansa Consequences of IMF loans: Under IMF-imposed policies, Sri Lanka has witnessed the dramatic deterioration of many local industries.  Sri Lanka had sold off its profitable public sector enterprises such as the Tire Corporation, Sugar Corporation, Milk-food Corporation, Air Lanka (which used to be Sri Lanka’s national airline), Ceylon Transport Board, and textile factories at Tulhiriya and Veyangoda.  Due to multiple reasons, the partnership of Air Lanka, Sri Lanka’s national airline with Emirates, miserably failed.  It did not economically affect Emirates, but Sri Lankan airline went down the drain—our assets. It has been reported that these state-owned enterprises were sold to the local and foreign private sectors for a fraction of their value based on commissions earned.  Subsequently, in ...

May 28, 2023 Posted by In Articles Tagged , , , , , , , ,
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Emirates boosts services to Melbourne adding second daily A380 flight   Source:island.lk Emirates has announced the second daily flight on its Dubai-Melbourne route, served by its flagship A380 aircraft. Starting 1 May, the airline will offer customers fourteen weekly services from Dubai to Melbourne.  The expansion of services is supported by the Victorian Government to help fast-track the return of international flights to Melbourne and bring more visitors to the state.  The additional daily frequency between Dubai and Melbourne will grow Emirates’ seats to over 1,000 a day totalling 700,000 a year between the airline’s global Dubai hub and Victoria, with 516 seats on each flight. Travellers can choose from 14 First Class suites, 76 lie-flat seats in Business Class and 426 ergonomically designed seats in Economy Class. Tickets can be booked on emirates.com, the Emirates App, or via both online and offline travel agents.  From 1 May, Emirates’ additional daily flight ...

Mar 26, 2022 Posted by In Articles Tagged , , , , , , ,
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Emirates celebrates 35 years of service to Colombo Source:Island Emirates is celebrating 35 years of connecting Sri Lanka to the world. Since its first flight in 1986, the airline has carried more than 8 million passengers to and from Colombo – operating more than 49,000 roundtrip flights. Emirates currently serves the country with six weekly flights, connecting customers to more than 90 destinations within its network, via Dubai. Emirates launched its operations to Colombo on April 1, 1986, utilising a Boeing 777-200LR. In 1997, due to increased passenger demand, the airline upgraded its operations and introduced its wide-body Boeing 777-300ER aircraft in a three-class configuration. Today, Emirates is the only international airline to serve Colombo with First Class services – offering passengers superior services and comfort in air and on-ground. ...

Apr 6, 2021 Posted by In Articles Tagged
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