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  • #6181
    Originally posted by lordvader View Post
    In fact the government should sell a shareholding in the whole of UL to DP or another private investor who can turn it around.
    When you assume control of an Airline you become responsible for all the liabilities (debts) as well. This includes past and future liabilities.

    Both UL and MJ have run up huge debts and are not anywhere close to being profitable. Future liabilities are anyone's guess - but I'm sure that it once again involves large amounts of money.

    There is no business case for either of these companies - no investor is going to step in because of the huge liabilities.

    Both companies are insolvent (bankrupt) - they only operate because the government has kept putting money in to keep things running.

    They've already tried to sell UL to EK and QR - an indication of how dire the financial situation really is.
    Always fly a stable approach - it's the only stability you'll find this business

    Comment

    • #6182
      Originally posted by ejanson65 View Post

      They've already tried to sell UL to EK and QR - an indication of how dire the financial situation really is.
      Is this a recent attempt by the new government?

      I thought EY would have been a better bid.

      EK has clearly stated in many occasions that they are mostly interested in organic growth supplemented by code share agreements rather than acquisitions.

      Comment

      • #6183
        Originally posted by Cayman View Post
        Is this a recent attempt by the new government?
        If I remember correctly it was earlier this year - was covered in the newspapers.

        I imagine these were very short meetings and most of the meeting would have consisted of people laughing hysterically!
        Always fly a stable approach - it's the only stability you'll find this business

        Comment

        • #6184
          Originally posted by ejanson65 View Post
          If I remember correctly it was earlier this year - was covered in the newspapers.

          I imagine these were very short meetings and most of the meeting would have consisted of people laughing hysterically!
          Who is that Mr.Dhammika Perara ? Rumour has he is interested in buying MJ. I wish they make MJ's name and livery to be changed and best alternative name for Mihin Lanka is "SriLankan airtaxi" with exotic livery. New brand should have the proper LCC Model.

          Comment

          • #6185
            Originally posted by banuthev View Post
            Who is that Mr.Dhammika Perara ? Rumour has he is interested in buying MJ. I wish they make MJ's name and livery to be changed and best alternative name for Mihin Lanka is "SriLankan airtaxi" with exotic livery. New brand should have the proper LCC Model.
            Dhammika Perera is a Sri Lankan businessman. Currently the richest person in Sri Lanka, he is the founding Chairman and Managing Director of Vallibel One Group, which is a holding company with investments in financial services, tile and sanitary ware manufacturing, and leisure sectors through its subsidiaries L B Finance PLC, Royal Ceramics Lanka PLC group and Greener Waters Ltd. It holds a 14.99% stake in Sampath Bank PLC.

            Dhammika Perera - Wikipedia
            https://en.wikipedia.org/wiki/Dhammika_Perera

            Comment

            • #6186
              Dhammaika was BOI chairman too under MR's regime.

              He must have enough money to buy MJ and he may do it for Mahinda.(MJ was his baby)

              BTW I want to see Mihin named as Srilankan Express

              Comment

              • #6187
                Originally posted by ejanson65 View Post

                I imagine these were very short meetings and most of the meeting would have consisted of people laughing hysterically!
                EK in particular is very unlikely to touch UL with a 10 feet pole. STC specially mentioned UL as an example of a failed partnership during the recent press conference he had in defense of EK's position in the US3 Vs. ME3 battle.

                I think in the business world, it is naive to say 'never', but EK may not be the suitor for UL.

                EY on the other hand has a precedence of acquiring struggling carriers and trying to turn them around. But, then again, what has UL got to offer to make itself attractive to any buyer?

                Comment

                • #6188
                  Originally posted by Srilankan1 View Post

                  BTW I want to see Mihin named as Srilankan Express
                  That will dilute the UL brand further. Look at what Air India Express has done to Air India. Not that AI had much of a brand to start with, nevertheless!

                  MJ will be better off being absorbed in to UL.

                  The concept of budget airlines has been a good one, but in my opinion it is passed its prime in Asia.

                  Comment

                  • #6189
                    Originally posted by banuthev View Post
                    Who is that Mr.Dhammika Perara ? Rumour has he is interested in buying MJ. I wish they make MJ's name and livery to be changed and best alternative name for Mihin Lanka is "SriLankan airtaxi" with exotic livery. New brand should have the proper LCC Model.
                    I think you should read this interview with him. The introduction explains him

                    "His business acumen is spot on. He is quick to identify an opportunity regardless of the economic environment. His strength is numbers where any company that fits his business model would soon be molded into success. Dhammika Perera is a prominent figure in the Sri Lankan business landscape. Unknown to many He is the wielding hand behind a plethora of companies in the country. Many of his acquisitions are successes and his reach has spread across sectors. Since 1999 He has awakened the sleeping giants of corporate Sri Lanka. He is proving that the impossible is possible!"
                    By Udeshi Amarasinghe | Photography Menaka Aravinda and Mahesh Bandara


                    Page not found - Business Today
                    http://www.businesstoday.lk/article.php?article=3549#sthash.zl1mm3QL.dpuf
                    Leader News Portal
                    Last edited by Godofpower; 21-09-2015, 05:54 PM.

                    Comment

                    • #6190
                      Originally posted by Cayman View Post
                      That will dilute the UL brand further. Look at what Air India Express has done to Air India. Not that AI had much of a brand to start with, nevertheless!

                      MJ will be better off being absorbed in to UL.

                      The concept of budget airlines has been a good one, but in my opinion it is passed its prime in Asia.
                      What about changing the name of Mihin Lanka to AirLanka? Our LCC should be flying SAARC countries only.

                      Comment

                      • #6191
                        Fly Colombo

                        A Symbol of Freedom

                        Comment

                        • #6192
                          Originally posted by digitalairliners View Post
                          Yes not unusual to have interiors and then fly.

                          1650 flew today (21st) so would think mid August a more likely delivery date if not delayed by French holidays.
                          1669 was seen 15th July on flight line at TLS , the person who saw it does not comment that the tail was painted.

                          1668 F-WWCC Hong Kong Airlines, primer/tail painted
                          1669 F-WWCO SriLankan Airlines, primer
                          1671 F-WWTJ Garuda Indonesia, primer/tail painted
                          Hi digitalairliners & skyliners - Do you have any update about SriLankan's fifth A330-343E (MSN 1669) ? this aircraft was received a test rego as F-WWCO and to become 4R-ALP. Wondering if this is 242t mtow, whether engines been fitted and aircraft fully painted. It hasn't done the test flight so far if i am not mistaken.

                          Comment

                          • #6193

                            Comment

                            • #6194
                              Originally posted by Max View Post
                              What is the meaning behind this? Now MJ is flying alongside UL to Chennai and Maldives?
                              What is the point to this? I fail to see any rational logic behind this. The quicker this airline is branded into a true LCC (with a new name), the better. There should be NO duplication of routes between the 2 brands.

                              Comment

                              • #6195
                                What is the mode of transportation for the Sri Lankan delegation when they travel to the United Nations Assembly? All of these other leaders arrive flying aboard jets from their national airlines, or aboard their own private government jets. However, I have never once heard of the Sri Lankan delegation arriving at JFK in a SriLankan Airlines plane. Why is this? I know several JFK spotters who go every year to spot for UN week, and they have never seen SriLankan there. Does the delegation fly commercial? Do they charter an aircraft from another airline? I am very curious about this. The President almost always flies to other countries using a SriLankan or Mihin aircraft, so why not the United States? The distance can't be the cause, because MR flew to Bolivia a few years ago aboard a UL A343 via CPT. Does anyone have any ideas?

                                Comment

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