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**Cayman** · 29-09-2016, 07:57 AM

US based BlackRock shows interest in Srilankan airlines: Minister

US based BlackRock shows interest in Srilankan airlines: Minister

http://www.lankabusinessonline.com/us-based-blackrock-shows-interest-in-srilankan-airlines-minister/

Sep 28, 2016 (LBO) - Two global investment managers, US based BlackRock and TPG Capital, have shown interest in crisis-hit SriLankan Airlines which is looking for a partner, a minister said. online pharmacy buy strattera with best prices today in the USA online pharmacy buy abilify with best price

Coming from a minister, so I am not sure how accurate or true, but BlackRock would be a superb partner/owner.

With over USD 4.5 Trillion worth of assets under their management and with a quarter a trillion USD worth of assets of their own, you cannot find someone with deeper pockets to withstand the hemorrhaging at UL.

And they sure will stop the bleeding, even if it means an amputation.

**lordvader** · 29-09-2016, 10:03 AM

SRI LANKAN WOOS GLOBAL GIANTS

By 2016-09-29

By Ishara Gamage

Ceylon Finance Today: US based global private equity giants TPG Capital's Asian Unit and BlackRock, Inc have rallied to invest in SriLankan Airlines, International Trade Minister Malik Samarawickrema said. He said there were seven bids for SriLankan Airlines. According to other sources, the seven interested parties were, Cross Stream Europe,...
SriLankan...

... SAT Singapore Airline Terminal ,TPG Asia, Senuk Asia Pvt Ltd, Peace Air (owned by Sri Lankan businessman Gamini Wettasinghe based in London and Singapore),Super Group Partners Company Ltd and BlackRock, Inc.
The TPG Asia is also a controlling shareholder of Sri Lanka's Union Bank and its related TPG Growth has recently acquired a 28% stake in Asiri Hospital Holdings .

Minister Samarawickrema said, the government is ready to take over the airline's existing debt burden and hand over the management control to the new investor.
"Depending on discussions we were ready to hand over even more than 50% ownership to the new investor", he said.
The government is also planning to amalgamate loss making Mihin Air with SriLankan Air or otherwise sell off of the company.
Two months ago, the government has called offers from strategic investors to sell loss-making SrLankan Airlines and Mihin Lanka, with BNP Paribas and KPMG appointed as transaction advisers.

NSB Fund Management, a unit of State-run National Savings Bank was the lead managers to the deal.

SriLankan Airlines had borrowed in international markets with Treasury guarantees and also taken credit from domestic State banks to fund losses.

SriLankan Airlines has been facing increased competition, especially from Gulf carriers, and earlier this year the government said it was considering an equity buy-in from another airline and possible aircraft order cancellations to stem ongoing losses. This was followed by some network cuts.

Emirates acquired a 40% stake in SriLankan for $70M in 1998 and increased its shareholding to 43.6%, with the government holding a 51% majority. But the partners hit troubles in 2008, triggering a government buy-back in 2010.

Page not found - Ceylon Today

https://www.ceylontoday.lk/print20160701CT20161030.php?id=6338

Some of the names look dead set wrong. For example, I doubt Singapore Airport Terminal (SATS) would be bidding for SriLankan Airlines. Out of the above list TPG looks like the best partner since they have experience in turning around airlines. Blackrock would also be good too, these guys know how to make money and have the relationships with the leasing companies and banks to make this happen.

**4R-ADA** · 29-09-2016, 10:38 AM

Blackrock will be the best in terms of giving some badly strong needed medicine to UL. They will be brilliantly ruthless in ensuring the airline will be a profit-generating enterprise. These guys wont take shit, and if they are to be the equity partner, you can bet that they will want a total wipe out of the existing management team.

**Speedbird** · 29-09-2016, 06:16 PM

Originally posted by Cayman View Post

US based BlackRock shows interest in Srilankan airlines: Minister

US based BlackRock shows interest in Srilankan airlines: Minister

http://www.lankabusinessonline.com/us-based-blackrock-shows-interest-in-srilankan-airlines-minister/

Sep 28, 2016 (LBO) - Two global investment managers, US based BlackRock and TPG Capital, have shown interest in crisis-hit SriLankan Airlines which is looking for a partner, a minister said. online pharmacy buy strattera with best prices today in the USA online pharmacy buy abilify with best price

Coming from a minister, so I am not sure how accurate or true, but BlackRock would be a superb partner/owner.

With over USD 4.5 Trillion worth of assets under their management and with a quarter a trillion USD worth of assets of their own, you cannot find someone with deeper pockets to withstand the hemorrhaging at UL.

And they sure will stop the bleeding, even if it means an amputation.

I do not know if you have noticed there is catch...all agreeable in condition that existing debt is absorbed by GOSL (the tax payer). I still haven't seen any Sri Lankan company has the same business attitude as a North American company...Sri Lankan companies more or less tend toward European type of business models

**newsflasher** · 29-09-2016, 09:31 PM

Originally posted by Max View Post

Sri Lanka in talks with AerCap to cancel three A350s

SriLankan Airlines is in talks with AerCap, a Dutch aviation lender to cancel orders to lease three Airbus A350 aircraft which did not suit its network and was too expensive to operate, a top official said.

One A350 is due in October, but SriLankan no longer wants to aircraft.

"We cannot operate them. We will make a bigger loss if we try to operate them," SriLankan Chairman Ajith Dias told reporters.

SriLankan has already cancelled one aircraft leased from AerCap paying a penalty of 17.5 million dollars.

The aircraft was ordered by the ousted Rajapaksa regime, when ex-President Mahinda Rajapaksa's brother-in-law Nishantha Wickremasinghe was chairman.

SriLankan had ordered another 4 A350s directly from Airbus.

http://www.economynext.com/Sri_Lanka...0s-3-6065.html

Sichuan Airlines might have taken these.

**ejanson65** · 30-09-2016, 05:27 AM

Originally posted by Cayman View Post

US based BlackRock shows interest in Srilankan airlines: Minister

http://www.lankabusinessonline.com/u...ines-minister/

There's a reason you don't see a lot of US companies in Sri Lanka - they are not allowed to pay bribes or kickbacks. If they do it results in prosecution by the FBI.

The US style of business and the Sri Lankan style of "Business" are totally incompatible.

It is impossible to do legitimate business in Sri Lanka imho.

The article is just more wishful thinking - nobody will touch UL imho.

**ejanson65** · 01-10-2016, 11:28 AM

Anyone know when the Annual Report is going to be issued? Last one was in August last year.

Given that the Airline is a complete disaster no matter how you look at it I'm curious how they are going to "shape" this report.

**Speedbird** · 02-10-2016, 01:35 AM

Three new Airbuses: Govt. faces financial turbulence, but no action against culprits | The Sunday Times Sri Lanka

http://www.sundaytimes.lk/161002/columns/three-new-airbuses-govt-faces-financial-turbulence-but-no-action-against-culprits-211201.html

It is easily one of the worst losses suffered by the Government but it had little or no say over the issue. The Cabinet Committee on Economic Matters (CCEM)

Airbus deal: SriLankan works out compromise | The Sunday Times Sri Lanka

http://www.sundaytimes.lk/161002/news/airbus-deal-srilankan-works-out-compromise-211210.html

The debt-ridden national carrier SriLankan Airlines has re-negotiated the termination of the three A 350 Airbus lease contract with one of the world’s

**ejanson65** · 02-10-2016, 10:54 AM

Originally posted by Speedbird View Post

Three new Airbuses: Govt. faces financial turbulence, but no action against culprits | The Sunday Times Sri Lanka

http://www.sundaytimes.lk/161002/columns/three-new-airbuses-govt-faces-financial-turbulence-but-no-action-against-culprits-211201.html

It is easily one of the worst losses suffered by the Government but it had little or no say over the issue. The Cabinet Committee on Economic Matters (CCEM)

http://www.sundaytimes.lk/161002/new...se-211210.html

The Weliamuna Commission report clearly identifies those at UL who were involved in this fiasco. Signed papers exist with name(s) and signature(s). Also the Aviation Minister at the time is known.

Seems like grilling these people is a good way to start.

Then you follow the money.

Once Aercap realises that this entire order represents theft/corruption/fraud/Treason they will release all information they have about this deal as they don't want their reputation damaged.

Once again you follow the money.

There is nothing complex or particularly difficult about this investigation - it's obvious those involved are being protected at the highest levels.

Just another day in a Failed State....

**Mach3** · 03-10-2016, 04:09 PM

Why is two GA flights from MED scheduled to land in CMB on early hours of 04/10/2016.

**banuthev** · 03-10-2016, 07:52 PM

Originally posted by Mach3 View Post

Why is two GA flights from MED scheduled to land in CMB on early hours of 04/10/2016.

Garuda Flights Arrival in Colombo Airport for refuelling

03-OCT-2016
08:35 GA8212 Medina (MED) Garuda Indonesia A333 PK-GPE Landed 08:36
18:51 GA6611 Medina (MED) Garuda Indonesia A333 PK-GPD Landed 18:50

04-OCT-2016
00:55 GA4211 Medina (MED) Garuda Indonesia A333 PK-GPG Estimated 00:50
01:01 GA6712 Medina (MED) Garuda Indonesia A333 PK-GPA Estimated 00:52
05:12 GA6811 Medina (MED) Garuda Indonesia A333 PK-GPF Scheduled

**banuthev** · 03-10-2016, 08:35 PM

Garuda Indonesia in Colombo Airport.

Pic source : sajith

**umedhah** · 03-10-2016, 09:04 PM

Originally posted by banuthev View Post

Garuda Indonesia in Colombo Airport.

Pic source : sajith

Wow cool... Is this seasonal?

**banuthev** · 03-10-2016, 09:07 PM

Originally posted by umedhah View Post

Wow cool... Is this seasonal?

As far as i heard , Garuda would touch down in Colombo for refuelling for their Medina-Jakarta flights until 16th Oct.

**Speedbird** · 03-10-2016, 09:10 PM

Originally posted by banuthev View Post

Garuda Flights Arrival in Colombo Airport for refuelling

I am still not sure why Garuda still need to refuel in Colombo

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