Colombo continues to prevaricate in its efforts to find a partner for ailing SriLankan Airlines (UL, Colombo International), announcing this week that they are now in talks with two international and two regional airlines. This comes after a lengthy tender period in which US-based investment firm Texas Pacific Group (TPG) was selected as a preferred candidate for a possible 49% stake in the national carrier.
However, Public Enterprise Development Minister Kabir Hashim has reservations about the firm, reports the Sri Lankan Daily Mirror. "TPG is not an airline company. So, maybe we might lose the identity of the airline," Hashim said. "We have given them (TPG) the option to do due diligence and give their offer. We may not be happy with that offer, so we are not compelled to take their offer."
The four airlines who have apparently shown an interest are JAL - Japan Airlines (JL, Tokyo Haneda), Emirates (EK, Dubai International), AirAsia (AK, Kuala Lumpur International), and IndiGo Airlines (6E, Delhi International). But Hashim is realistic about the prospects.
"But even when they show interest, it doesn't mean much, because when they come and look at our books and think this is a no-go, they will go off. So, we are not thinking they're going to take it, but it at least shows that they are interested in us, that there are players in the market thinking that SriLankan has potential," he said.
