According to a massive cache of documents released by Sri Lanka’s national carrier, SriLankan Airlines to the Right to Information Commission this week (July 17th), SriLankan had incurred a gargantuan loss of LKR 25,698,782,200 to Aercap as a result of the termination of lease agreements entered into for four Airbus A350s, a few years ago.
Ratwatte
Also among the information released were salary particulars of three top officials of SriLankan, the CEO (LKR 3, 270,000/-), the Head of Human Resources (LKR 998, 004/-) and the Chief Commercial Officer (GBP 9500/-). All three were given a host of other benefits in addition, with the national carrier footing a hefty bill of the former CEO Suren Ratwatte amounting to USD 23, 568 for the cost of personal flying training. On Saturday (21st), trade unionists at SriLankan protested following the information release, pointing out that a gross injustice had been caused as the salaries given to other employees of SriLankan were paltry in comparison.
The information released by SriLankan Airlines was on Order of the RTI Commission (RTIC) handed down on 12th June 2018. The Commission, comprising M Gammampila, Kishali Pinto-Jayawardena, Rohini Walgama, S. Thiruchandran and SG Punchihewa had observed that; ‘…where the public purse is concerned, and the alleged financial irregularities of a particular Public Authority are under scrutiny in an Appeal before us, this Commission will be particularly watchful of the public interest.’
The Order was after the Commission considered an appeal filed by the Airline Pilots Guild when SriLankan refused its information requests last year. Former Chairman of the Board of Directors had announced in public in December 2017 that the Board will not release the information as privacy concerns of top executives would be infringed. Later, SriLankan pleaded before the Commission that the RTI Act did not apply to it, which objection was dismissed.
Following detailed hearings thereafter, the national airline released the information. Sources from SriLankan Airlines informed CT that it had wished to appeal against the Order and had asked for time to respond to the RTI Commission last month. However, the decision had been taken not to appeal on the very day that it was due to report back to the Commission (17th July). CT learns that the twenty-five page Commission Order dealing equitably with various legal aspects of the information challenge was one consideration that had influenced the decision not to appeal.
Also released were Minutes of Board Meetings held on 1 March 2013, 14 March 2013, 9th September 2014 (including at then Speaker Chamal Rajapaksa’s residence) and on 9th March 2016, 28th September 2016 relating to; Purchase of 4 A350 aircraft, lease of three A350 aircraft, cancellation of lease of 1 A350 aircraft (due to have been delivered in Nov 2017 and termination of lease of3 A350 aircraft due to have been delivered in October and November 2016. In addition, 2 wet lease agreements with PIA and termination agreements with AerCap were released.
The RTI Commission will consider, in early September, the release of the final tranche of documents comprising reports of aviation consultants Nyras, Seabury and Seaworks relating to, among other things, the restructuring of the struggling national carrier. SriLankan has been plagued with mismanagement, financial profligacy and inefficiency during both the Rajapaksa and Sirisena-Wickremesinghe Governments and is currently kept afloat with injections of colossal funds from the Treasury.
Jim softy / July 22, 2018
This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/
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Nimal Perera / July 22, 2018
The going rate for a good CEO in Colombo is between Rs 2 to Rs 3.5 m per month and hence the amount paid at Si Lankan is not excessive. All large listed co CEOs and bank CEOs are on these packages. In addition business travel for the family on holiday and a Benz car and a second car are all on offer now for the CEOs. It should be noted that all these add up to only about Rs 50 m per annum and is well worth it to get the right candidate who can generate profits of Rs billions on an yearly basis for the owners. There are hundreds of local companies which earn more than Rs one billion in profits per annum.
However the question is whether Suren is the right candidate for the job at Sri Lankan.
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K.Pillai / July 22, 2018
Nimal Perera ~ “The going rate for a good CEO in Colombo is between Rs 2 to Rs 3.5 m per month and hence the amount paid at Si Lankan is not excessive. All large listed co CEOs and bank CEOs are on these packages……..”.
The difference is:
Accounts are kept, performance audited. Under-performers face sack.
The appointments are not based on corruption/nepotism/impunity.
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Rajiv Tennekoon / July 23, 2018
Nimal Perera,
Absolutely correct.
But, as you pointed out, Suren was not the right candidate for the job. He had no experience in running a large organization and simply got the job due to his connection to the Prime Minister.
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dushyath / July 23, 2018
”simply got the job due to his connection” who wouldnt, what about the sons and daughters brothers and sisters , uncles and nephews and nieces working as pilots and cabin crew there at Sri Lankan airlines? did they get in with merrit?
this airline is full of nepotism , how many ex Commanders children ended up as Pilots, how many Politicians children?
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Asanga Ambagaspitiya / July 24, 2018
” . All large listed co CEOs and bank CEOs are on these packages. “
– yeah but those bank other companies make money and run on profits.. they don’t ask for public money to bail them self.
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Abhaya / July 22, 2018
I was on a US domestic flight yesterday and I saw the full page ad taken out by Delta on their own magazine thanking Donald Trump for negotiating with the Arab states to reduce the billions of dollars of subsidies give to Emirates Ethiad Qatar and others . No wonder Sri Lankan cannot compete with all this oil money subsidies . It is just basic economics I think . Hopefully we should restrict some of the access to our airports and such to build our own industry .
Actually the last time I flew (about a month ago) The Same chairman had asked in a similar AD for the help with these air lines . May be Trump is good for something after all . :)
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oldcodger / July 22, 2018
” trade unionists at SriLankan protested following the information release, pointing out that a gross injustice had been caused as the salaries given to other employees of SriLankan were paltry in comparison. “
Not that I am in favour of paying so much to incompetent managers, but why don’t the unions reveal that most cabin crew take home 300,000 plus minimum. They do essentially the same job as hotel staff. Some of the hotel crew can cook but cabin crew dont. There are many more cabin crew than management types.
It seems the loss for 2016 was 8 BILLION. Assuming that the management was paid Rs 84 million, that’s only 5 % of the loss. What caused the rest of it? Clearly crew salaries had a lot to do with it.
If these unions actually want to make the airline profitable, they too should agree to take a salary cut. Airlines should be run as a business, not as a place to stuff some political catchers.
This airline costs EACH of us Rs. 206. Since probably less than 5% of us fly anywhere, this is grossly unfair.
Sri Lankan does its share of unfair gouging too. Take the monopoly route it flies to Trivandrum in India where the current fare is 42000 for a 50 minute flight. The fare to Chennai (2 hours) is 24,000! In fact it is possible to fly Colombo- Dubai- Trivandrum for less! And this airline still makes losses!!
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Shajeeth Majumudeen / July 26, 2018
Totally agree with oldcodger. The monopoly routes they charge us are insane. And they still cry foul that they make losses. incompetent pigs all around
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Raj / July 22, 2018
Abhaya,
Protectionism covers up for inefficiency & certainly not good for the consumer. If unable to compete in a free market, there is no point continuing the business. Hasn’t the national carrier of SL been supported by the tax payer since it’s inception? Time to call it a day, late as it is, without pouring down more money into a black hole. This is a luxury a poor country like SL cannot afford. It has only served the purpose of providing employment to cronies & fat cat bureaucrats.
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Abhaya / July 22, 2018
Raj
The Arab airlines are also protectionist with Billions $ in state subsidies . I agree protectionism is not good . but is it worthwhile for a country to have its own air line or can it totally depend on other countries to provide the service ?
US under trump considers it a National security issue
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oldcodger / July 23, 2018
Abhaya,
The US does not have a national airline.
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Abhaya / July 23, 2018
No but the Govt , The Trump one protects them . I am not suggesting there should or should not be a national airline . But the reason for some of the losses are unavoidable
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Raj / July 23, 2018
Abhaya
Some middle Eastern countries are rich with oil revenue & citizens have very much a tax free life style with many industries subsidised or enjoy concessions from the Govt. for the benefit of it’s citizens & customers but in SL, it is the poor tax payer who foots the bill for luxuries the country can not afford.
CEOs are paid handsomely for their contribution in guiding & managing the business profitably & if they fail to deliver, they do not deserve to be in that position. Naturally, Companies exposed to intense competition globally need exceptional leaders & they should be compensated accordingly but failing to produce results, whatever the reason, is no excuse for their continued employment. If unable to compete, whether due to lack of resources in terms of funding or the inability to find talented & efficient employees, the business should be closed down because the company has failed in competitiveness. There is no pont a flogging a dead horse.
I fly to SL every year, some times, several times, but I always fly a particular middle eastern airline because it’s cheaper & provides a good service. I stopped flying Sri Lankan in 2010 after, perhaps, the worst flight I have ever been in. So to your question, yes, I can depend on other countries to provide a good service & for your information, developed countries do not have ‘national’ carriers. They are all business entities & they have to swim or sink.
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Raja Senanayake / July 24, 2018
Well said Sir. We will never be able to compete in Airline business as a State owned and managed Airline. The required commercial and administrative flexibility will never be possible under State ownership. But giving freedom to political appointees is like givig a ladder to the monkey.
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Kumaran / July 22, 2018
Abhaya, Trump is NOT a politician. And he is wealthy by his own efforts. Herein is the problem with our people. All are “politicians” and none are visionaries and patriots. Trump loves his country. Name one of our “guys” and “dolls” with that same emotion??!!
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Fathima / July 22, 2018
Low salary for an international airline CEO
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Eagle Eye / July 22, 2018
The Board decided to pay Peanuts. Accordingly they ended up with m……………
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Abhaya / July 22, 2018
Actually yes thats like 20000 $ per month . say 240 000 $ per year . I dont think you can get any international talent at that price .
I wonder how much they paid the Emirates guy when they used to own Sri Lankan ?
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Pro Republica / July 22, 2018
Well, at least if these bloody buggers did some WORK…!
What a shameful fate for a once respected airline.
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Fathima / July 22, 2018
“once respected airline.” WHEN??
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Pro Republica / July 22, 2018
I’m sorry – did that remark jar the sensibilities of those who do not wish to acknowledge that some things were done well in this country, one upon a time??
SriLankan ranked high in the Skytrax rankings until the Rajapaksas used it as their family property. And then the yahapalanaya-ites came and continued the trend with only the most blatant abuses not repeated… whoever comes next will just continue this.
Sad fate for the colourful peacock in the skies!
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Fathima / July 24, 2018
There are 4 Skytrax awards won consecutively for Best Airline in Central Asia from 2001 to 2004. This is not something we can boast about, we have to think why the airline could not move forward from Central Asia from 2001 and stayed there till 2004, and no more Skytrax after 2004. (even before MR time)
Even so said, ” things were done well in this country” was not really done well in SL, it was done well in Dubai, by Emirates after 1998 sign up :-) It shows even with such a great management, the airline could not come up during the Emirates contract period itself – we should be having the dumbest people who can’t produce under Emirates, and how are we expecting to do it alone?
Why are you always trying to boast on fake and temporary winnings? If not, on someone else’s sweat? Short roots don’t exist forever. You idiots, continue to enjoy being idiots – What can a few people with brains do about it?
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Mohamed / July 24, 2018
Pro Republica,
“I’m sorry – did that remark jar the sensibilities of those who do not wish to acknowledge that some things were done well in this country, one upon a time??”
What is good we have to appreciate. Last month I was in Indian, where I tried their Kewum and Kookies (in Kerala), damn utterly disgusting taste and they even did not get that “Konde” right on the Kewum there.
SL is the best where you can get the real Kewums. Don’t try anywhere else.
Cheers
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Mohamed / July 25, 2018
Everything in this country goes wrong because of pundits like you buy the myth that some things were done well in this country, once upon a time…LOL
I can agree we used to make good Vesak lanterns, that is also captured by China now :-(
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Pro Republica / July 27, 2018
Oh dear, some people seem to have got very annoyed at being asked to accept that not all was bad, all the time here.
Relax.. relax..
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Sinhala_Man / July 23, 2018
Fathima,
.
Then let’s not have a Sri Lankan airline.
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Fathima / July 24, 2018
Sinhala_Man,
Yes, good suggestion, as a tax payer I wouldn’t want my money being wasted on something mismanaged for ages. And again, as a tax-payer, I wouldn’t want to contribute on my national airline that foreigners mock at, while the Govt does nothing to improve it.
For example, I used to know a country manager in a foreign land, he does upgrades and charges paid directly to his personal account back in SL.
Be it, Fathima, Lakshmi or Wimalawathie, we all pay the same amount of tax, we all have the same right I guess?
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Jim softy / July 22, 2018
There are company executives who did not earn any salary because their company was in trobule financially. Now those companies are multinationals. Sri lankan Air line managementn was just like their politicians were feeding their stomach. I”T is common to take huge pay cuts and go without salary increases or bonuses when the company is struggling. Sri lankan managements are not like that. they are just Blood suckers and Remoras. None of these people have conscience.
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Abhaya / July 22, 2018
lol Jim No that is not true . Most American CEOs take the money anyway .
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shankar / July 22, 2018
the 25 bin rupees we have lost is more than the bond scam.President should appoint a commision to look into the purchase,lease and termination of the aircraft.With 25 bln rupees how much badly needed equipment can be bought for hospitals, Schools revitalised or housing for the poor or roads.
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Douglas / July 22, 2018
I was wondering all this while why the readers of CT were not presented with the day to day revelations made at the daily sittings of the Presidential Commission appointed by the President. The information that come out at those sittings would send anybody hysterical on learning how all these “Top Management Team” who are so endowed with hefty salary and other compensation packages have been “Managing” the affairs of this Air Line. CT: Please give consideration to my request to publish that information coming out of this Commission to enable the readers to evaluate the “Returns” the Airline got from these “Investments” made to the “Top Management Team”. I eel that is a better and an economical way to assess the “Performance Levels” of these “Top Management Team”.
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Shah Silva / July 22, 2018
I am based in Dubai. Area manager for a leading german car manufacturer. My monthly reumenaration is above 20000USd.
Paying 25000USD for Srilankan CEO is peanuts.
Emirates pays about 30000USD for a lower rank expatriate.
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Muruththattaya Ananda / July 22, 2018
Yes very true.
Both Rusiripala and Rajeewa are trying to fish in troubled waters.
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Leonard / July 22, 2018
Cant find Shah Silva in the LinkedIn. Or in Google.
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Pro Republica / July 22, 2018
Ho! Shah Silva must be hiding!
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Leonard / July 23, 2018
No I’m sure he is very busy detailing cars in the show room.
I met a person who was very proud to be working at corporate level for McDonald corporation later admitted working the customer service counter which is nothing to be shamed about.
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Native Vedda / July 23, 2018
Leonard
–
Beware Shah Silva is looking for a job at Air Lanka through his wife’s uncle.
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Leonard / July 24, 2018
Good one! can Air Lanka afford the peanut’s for his Mega talent.
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Yahapalanaya / July 23, 2018
Source?
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Fathima / July 25, 2018
Shah Silva, in SL, people starts with low salary. Then they block public road traffic, climb on trees, office buildings and any funny thing you can imagine to get the salary increased.
Who knows Suren was waiting to do the same at later stages?
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asela / July 22, 2018
oldcodger : if you do not know how the airline ticket fares are fixed it is always better to maintain silence. Distance or the flying time is one factor but the major factor that considers for fixing fares is the competition, type of traffic etc. We should know that the losses of the airline is not due to the fault of the employees. It is the politicians who ruined the country and the airline who are responsible for this mess. Who appointed Suren Ratwatte or Ajith Dias when all the corners aviation experts and employees are protesting against these appointments. Ranil who is trying to show the world that he knows everything under the sun did not take any notice and behaved like a. deaf . he changed the Chairman and CEO when Ranil was pushed to the wall. Salary paid to the CEO is well below the standard industry salary of an international CEO. The issue is he did not perform.
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oldcodger / July 22, 2018
Asela,
“if you do not know how the airline ticket fares are fixed it is always better to maintain silence”
Well if YOU don’t know what “gouging ” means, you should have kept quiet. So you seem to be one of the cabin crew?
Gouging is what some mudalalis do when there is a shortage of a particular item. Jack up the price, knowing there is no competition. Otherwise known as black-marketing.
Is a state-run airline supposed to act in this manner?
The basic problem is that you can’t run an international airline without paying international rates. The best option is to shut it down. The staff, if they are are as good as you say, can go work
for foreign airlines.
“Who appointed Suren Ratwatte or Ajith Dias when all the corners aviation experts and employees are protesting “. I hate to be nasty, but your English could be improved.
The airline has been a disaster long before Ratwatte or Ranil. Why didn’t you guys protest when MR appointed Nishantha Wickramasingha?
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kolla / July 22, 2018
Ratwatte , international talent ! RW Secretary General of the UN ! Mahendran to head the World Bank ! Charitha Ratwatte to run the US government( quietly !) !
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justice / July 22, 2018
Is it necessary to prop up this monster of an airline gobbling up billions which are necessary for betterment of peoples’ lives, merely for political “prestige” among nations?
Why cannot charter airlines be hired for essential flights and let other international airlines to fly through Colombo for the benefit of ordinary citizens – Sri Lankans in Sri Lanka & abroad, and tourists/businessmen ?
Surely ALL nations do not own/run their own airlines.
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UKCitizen / July 22, 2018
It’s one thing to pay people a good salary for doing a good job – it’s quite another when people are given positions they are not qualified for because they have the right connections.
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Nice to see the lid has finally come off Pandora’s Box – there’s plenty more if they choose to investigate.
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For those who do not understand why the losses at SriLankan are so large:-
-Aircraft have been leased at well above market rates.
– On 12 year leases
-With no Termination Clause.
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The above means that it is impossible for SriLankan to make money operating these aircraft.
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There are still more aircraft on order including 4 A350. These appear to have been bought at full price instead of at a 40% discount which is the normal way things are done.
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This is what needs to be investigated.
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Who pocketed the Commissions on these orders?
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Rajeewa Jayaweera / July 22, 2018
After a battle lasting one year, now that the Pilots Guild has managed to obtain Pay & Perks of former CEO, CCO, and current HHR, what exactly does the Guild (and the Unions) hope to achieve or to do with the information?
A CEO elsewhere in a comparable airline (no of aircraft, revenue etc) would earn a package no less than USD 40,000 + perks other than a chauffeur. Of course, there will be deliverables.
Sadly, the Prime Minister instructed, Ratwatte’s performance should not be evaluated. Ratwatte should never have been permitted flying training at company expense.
Coming back to the Pay & Perks issue, blaming the CEO and CCO for losses is incorrect. All staff is stakeholders.
Given below are some figures to support my argument.
1 2 3
2012/13 16.60 (1.32)
2013/14 18.80 (3.13)
2014/15 18.48 (4.33)
2015/16 18.88 (1.41)
2016/17 18.61 (0.63)
2017/18 19.21 NA
Column 1 – Financial Year
Column 2 – Revenue per Employee in Rs millions per staff
Column 3- Value addition per employee (positive or negative growth in real terms) which is in the negative each year. Source; Annual Reports
It would be useful if the public could now have a list of names and designations of all staff based in Sri Lanka who earn in excess of Rs 1 million per month. The figure is believed to be over 300 staff.
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Pro Republica / July 22, 2018
Prime Minister ‘instructed’ that Ratwattte should not be evaluated?
What proof do you have to back up your allegation, Rajeeva J. given that you are no anonymous name hiding behind a pseudonym? I am no supporter of the neo-liberal RW but again, what proof do you have for making a serious allegation that is a step higher than the general inefficiency of RW and his cohorts?
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Rajeewa Jayaweera / July 23, 2018
Pro Republica / K Pillai
The directive was communicated by former Chairman to the Board during Board Meeting held on 28 April 2016 vide Board Minute 2.6
Now that I have told you where to look, I suggest either of you or both together jointly obtain a copy of the Board Minute. If the company declines, you could appeal to RTI and get it.
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Pro Republica / July 23, 2018
Is not the easiest thing to release it yourself – since you quote chapter and verse and there is nothing stopping you from doing that? Whats’ holding you back? Shyness?
Shifting the responsibility by saying ‘ go get it thru RTI’ is typical SriLankan ‘loosetalk’! One reason why we are in this mess not only re SriLankan but other things as well.
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Rajeewa Jayaweera / July 23, 2018
Pro Republica
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What I write, I write responsibly under my own name and photograph. I also take ownership of what I write.
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Please visit https://www.colombotelegraph.com/index.php/who-is-managing-srilankan-airlines/ which contains instances of Ranil Wickramasinghe’s interventions including that of Ratwatte’s confirmation. It also contains several supporting documents
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If still not satisfied, you know what to request for. However, you will have to come out of the woodwork, state your name, address, NIC, and other details and obtain it. There are limitations to what nameless and faceless critics indulging in loose talk can achieve!
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Pro Republica / July 24, 2018
The link given by you does not confirm your allegation that ‘ Sadly, the Prime Minister instructed, Ratwatte’s performance should not be evaluated. ‘ and your later reference to a Bd Minute recording what was ‘communicated by former Chairman to the Board during Board Meeting held on 28 April 2016 vide Board Minute 2.6’. Your article only refers to a different Bd Minute.
Our question was that, if you have that Board Minute as you so confidently say, why don’t you PRODUCE it?! Why ask others to go obtain it thru RTI.
When named individuals say loose things, it is worse than unnamed individuals saying other things!
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Rajeewa Jayaweera / July 26, 2018
Pro Republica
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It was not my intention to respond to your comment.
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Evidence given by Company Secretary to PCoI on UL made me change my mind as she has under oath, confirmed what I wrote.
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http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=188538
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All should not be evaluated based on one’s own standards.
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Pro Republica / July 27, 2018
STILL no production of the circular which is cited by either yourself or this Secretary!
Why this wriggling around? All loose talk
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Rajeewa Jayaweera / July 27, 2018
Pro Republic
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Are you an imbeci to call Co. Sec.’s testimony under oath before a PCoI lose talk?
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PM’s verbal instructions to Chairman communicated by him to Board members has been minuted and Co. Seal affixed and has been handed over the PCoI.
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K.Pillai / July 22, 2018
Rajeewa Jayaweera states with confidence ~ “Sadly, the Prime Minister instructed, Ratwatte’s performance should not be evaluated.”
Is this a dreamy thought or will you be able to substantiate this?
The slant in your views is known and hence the question.
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oldcodger / July 22, 2018
Rajiva,
“It would be useful if the public could now have a list of names and designations of all staff based in Sri Lanka who earn in excess of Rs 1 million per month. The figure is believed to be over 300 staff.”
Completely agree with you on this point. That means at least Rs.300 mn per month on some staff salaries. That’s a lot more than the 10 mn or so spent on the top three. Quite likely the cabin crew are also big earners. Some people will say that an airline cannot be run without international-level salaries. Well then, why don’t we shut it down and operate a few small planes to India only?
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dushayth / July 23, 2018
Rajeewa, yes you are correct , holding the Ceo responsible is just a lame excuse used by the trade unions. An iron fist should be needed to take them.
if these unions specially the pilots guild is really concerned about the waste this CEO has done why not shout against the other wastes and curruption during previous government.CEO kapila Chandrasena has done few mistakes too, No, they are damn scared, They know who can be balanced
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Lankan / July 22, 2018
What about many of our Mps get cat salary without GCSE.
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Douglas / July 22, 2018
Rajeewa Jayaweera: You said: ” A CEO of a comparable airline (No of aircraft and revenue etc) would earn a package not less than USD 40,000 + perks…..”. Can you please tell us on what “CRITERIA” and on what “PERFORM BASIS” such earnings are determined by other comparable airlines? Leaving aside all that, in my opinion, not only a CEO, as a matter of fact, the remuneration + must be strictly “MEASURED” on PERFORMANCE CRITERIA that centers on GOALS and TARGETS. In short, each and every performer in an assigned job MUST contribute his/her functions in direct relation to the “BOTTOM LINE”. If that “BOTTOM LINE” is continuously end up in “RED” and indications are that it never could be turned into “BLACK”, then that is a “SYMPTOM” that has to be immediately identified and corrective measures to be taken. Based on that fact, I would surmise, ALL, downward from Chairman, Board, CEO, COO, HHR & Co..functioning in the TOP MANAGEMENT have FAILED and such failed personnel have merely sought their own “Survival” by SUCKING the “BLOOD OF THE NATION”. They are all “SUCKERS” who DID NOT EARN AN HONEST LIVING but “FRAUDSTERS” who pocketed those “EARNINGS +” that you indirectly justify in what I quoted from your comment. Look at what is being revealed at the Presidential Commission. Already, some of those at the “TOP MANAGEMENT” have been called and more interesting facts would come as and when the “REAL CULPRITS” are roped into give evidence. The publication of their evidence would be as relevant as their “Remuneration Packages” with names. Over to you Rajeewa. Thanks
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whywhy / July 22, 2018
If Sathosa is running in loss , at least it has a service providing price relief
to its customers hit by price fluctuations . No institute , private or public
should run in loss to prop up corrupt politics of a country that has found ways
to thrive in losses in the name of national pride or whatever ! Based on that
line , Airline industry doesn’t need to continue gobbling up public money if it
can not find a way to look after itself on its own funds ! Is it an essential service
for us ?Why does any one continue in his position as chairman or CEO if he
knows he can not make a difference ? The only reason I find right is , NOBODY
IS THERE TO LOOK AFTER PUBLIC MONEY AND MORE AND MORE PEOPLE
ARE BECOMING AVAILABLE IN THE CIRCLE OF BIGWIGS TO PLUNDER PUBLIC
FUND NO MATTER THE COST !
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K.Pillai / July 22, 2018
“SriLankan had incurred a gargantuan loss of LKR 25,698,782,200 to Aercap as a result of the termination of lease agreements entered into for four Airbus A350s, a few years ago.”
The amount is OUR loss but on the AerCap books will be THEIR gain.
Can we find our who caused this loss? Never ever. This is where our problem lie.
The corruption/nepotism/impunity agents know this!
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shankar / July 23, 2018
pillai
this is what i also commented,but others are worried about peanuts of a salaries for monkeys.just imagine the colossal wastage.Who gave such contracts when a airlinre is making massive losses.Huge cuts would have been got for the go inbetween.So if thre was corruption that could have been brought up to cancel the contracts legally.
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K.Pillai / July 22, 2018
An aside
Look at the performance of our cricketers.
Suddenly the team morale has risen. Is it a coincidence that the SLC top management has been removed.
Dayasiri Jayasekera is not in GoSL any more. (Where te hell is he?). He cannot taunt the cricketers as fat and unfit.
Here is a lesson learnt for SriLankan Airlines.
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Jim softy / July 23, 2018
CEO suren Rathwaththe Was Ranil right hand man charitha Rathwaththa brother. So, Suren should get reasonably high salary. that is fair. How in the world, in order to hire all the people recommended by Ranil, needed a Human Resource person with RS one lakh per month. OF course, the Chairman Ajith dias was Ranil’s man. He was over 70 years old and most of the time he di dnot go to work because of his old age. Then the seocnd in command is agin Ranil’s man. Why the commission doe snot ask Ranil to explain the situation. At least they should send a questionaire to explain about the condition of world airlines.
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Yahapalanaya / July 23, 2018
Lucky guys. Business is making losses year after year, govt pumping funds , citizen are having only one meal a day paying all the direct taxes to sustain these white elephants while the top management is taking home big pay cheques by local standards. Other Companies layoff employee to cut down the OHs and fire the CEO. Though the roles are different and whether it is questionable whether Suren R has required management skills to be operating as a CEO of an airline, per the arabinabusiness.com for the year 2017 an Emirates pilot (Captain) is entitled to a monthly wage of $11,633 (highest grade) + $4,380 housing allowance (Housing is very expensive in UAE )tax free. Someone could do the math to determine local equivalent. This does not state whether the 380 I believe it is so What has SR done and brought to table to justify the appointment. This is a gold mine for him.
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shankar / July 23, 2018
ranil saw some chance for his mates to make some money before the airline is sold off.The intention was never to resurrect the airline because with such monkeys how to.So people who would have earned a few lacks only if they got any other job,were paid in millions for these jobs.All Ranil’s cronies.If ranil does not go we are finished.
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dushayth / July 23, 2018
there are few Senior Captains taking USD 8000 to 10000 per month.
thats less than some overseas Pilota getting paid.
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L. Perera / July 23, 2018
All these craps are still in this airline until such time we broke. This country will never progress. Sin for the young generation
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K.Pillai / July 23, 2018
The SriLankan Airlines salary issue has generated lots of heat. There is no point comparing salaries of CEOs overseas. We should work out the ratio of the salary of SriLankan Airlines high-ups with that of a booking clerk. Do the same for Doha airlines – make sure the booking clerk here is a Dohan. Compare the two ratios.
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Let this not distract us from the utter filthy greed prevailing in SriLankan Airlines. We have just seen the tip of the iceberg. Possibility of this getting blown up without a trace is more than a possibility.
Files on Sajin Vass have disappeared!
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Sheriff / July 24, 2018
Yo people ! keep arguing and disputing till the next article. How sad you miss the crux of the matter. Some of you say close it down, some say shrink the operation or sell the damn white elephant, or keep talking big about Emirates days. You know why this airline is losing money and still keep running,? Its that sheer opportunity it creates for the GOSL appointees to cream it off. The loss making is not the fault of the people working in the company, I am sure Ranjeewa knows it too well. All procedures and processes are well in place and our pilots, engineers are some of the best in the region. We keep producing them. Well this is a company which was made long before most Gulf petrol airlines. They took some of the best from us. Yes there are few misfits around in Sales, marketing and at the airport, again appointed by the big boys to make it easy for them to continue the vandalizing. Even if this airline sell half business class and half economy on every flight we cannot recover the cost of the stolen chunk ever. So without going around with a begging bowl to others to sell this airline for pittance, try and recover the stolen money from your political friends in both parties past and present. We as the public must have a mind set not to blame but to protest and stand against these corrupt leaders and ministers, CEOs, Chairmans, board members ( some get medical treatment in Singapore for Rs.300million at company cost). So please people change the way you look at this mess differently.
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K.Pillai / July 24, 2018
Once the stage of examining the SriLankan Airlines books is reached, it will be found the books messy. Forensic accountancy experts will throw in the towels.
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Evidently Bank of Ceylon and Peoples’ Bank will grant a ‘biggish loan’ in hard currency. The banks have already written this as ‘bad loans’ in their books. Who are these baddies?
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UKCitizen / July 26, 2018
The IMF has already told the GOSL not to put any more money into SriLankan.
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The IMF has also warned about the solvency of the Bank of Ceylon and the People’s Bank. TIP:- Get your money out of these banks ASAP!
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SriLankan is running on the U$220 Million they were somehow able to borrow from UBS in Singapore. Who knows what conditions are attached to this loan. That needs to be investigated.
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The still owe U$ 800 Million for 4 A350 to airbus. This contract appears to not have a Termination Clause. Good luck getting out of that!
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There still appears to be enough money to pay CEO Suren’s absurd demands!
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When the money runs out that’s the end of the Airline.
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K.Pillai / July 25, 2018
Are we tearing each other on “How much is a minute of a SriLankan Airlines high-up, Pilot etc. worth”?
The real problem is “Can we ever find a Team to take us out of the messy messy mess”. This is possible if and only if, the culture of corruption/nepotism/impunity is bridled elsewhere.
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UKCitizen / July 26, 2018
@K.Pillai
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There is no way out of this mess – it makes no difference who is in charge.
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Forward liabilities (4 A350 + the lease prices of the new fleet + the operating losses) represent at least U$2 Billion in the next 6-8 years.
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Plus the current debt of over $1 Billion
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There is no more money. Why should the people of Sri Lanka be liable for a single Rupee of these debts? Unfortunately they are.
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Fully agree that there needs to be accountability – doubt it will happen.
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K.Pillai / July 26, 2018
“The Daily Mirror” of 25 July 2018 carried the news “Suren Ratwatte had been appointed as the CEO of the SriLankan Airlines without a Board Decision, Airlines Company Secretary Dalarene Thirikumar told the Presidential Commission of Inquiry (PCoI) today”.
The village Parents-Teachers Association will not be run like this!
We will soon find out that financial records of SriLankan Airlines are ‘missing’.
Are these the side-effects of the language/religion-divide?
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Rajeewa Jayaweera / July 27, 2018
K.Pillai
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Company Sec. also told the PCoI, PM instructed Ratwatte to be confirmed without a Performance Appraisal. http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=188538
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UKCitizen / July 27, 2018
Curious to see how much further this investigation will go – they’re getting closer to discovering the involvement of your Corrupt Politicians
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The obvious line of investigation is to get copies of the Lease Contract(s) and see who signed these on behalf of SriLankan. Then follow the Chain of Command all the way to the top!
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At least U$100 Million in Commissions were paid out – that’s what this deal was really all about.
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A few benefit at the expense of the entire country!
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