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Addressing SriLankan Airlines' long trail of corruption

Daily FT

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July 01, 2025

THE recent arrest of Nishantha Wickremesinghe, former chairman of SriLankan Airlines and brother-in-law of ex-president Mahinda Rajapaksa, is a long-overdue development that hopefully will be a turning point in addressing the long list of woes of the national carrier. His appointment, despite lacking even a basic General Certificate of Education (Ordinary Level) qualification, symbolises the dangerous cocktail of nepotism, incompetence, and corruption that had wrecked not just the national airline, but much of the country's public institutions.

Wickremesinghe's tenure as chairman is nothing short of a textbook case in how not to run a national asset. Appointed solely due to his family ties to the then-president, he had neither the educational background nor the professional experience to oversee an international carrier. Unsurprisingly, the results were catastrophic. Under his leadership, SriLankan Airlines became a bloated, loss-making enterprise riddled with shady deals and mismanagement. The airline, which once held promise of transforming Sri Lanka to a regional hub, today bleeds taxpayer money and continues to be a liability for the Treasury.

Daily FT से और कहानियाँ

Daily FT

LAUGFS Lubricants partners Colombo Motor Show 2025 as Official Lubricant Partner

LAUGFS Lubricants has announced its partnership with the Colombo Motor Show 2025 as the Official Lubricant Partner for the second consecutive year, following the resounding success of last year's collaboration.

time to read

1 mins

October 16, 2025

Daily FT

Daily FT

The Steuart by Citrus reopens: Historic gem in heart of Colombo

CITRUS Leisure PLC has announced the reopening of The Steuart by Citrus, following an extensive refurbishment that breathes new life into one of Colombo's most iconic heritage properties.

time to read

1 mins

October 16, 2025

Daily FT

Classic Destinations becomes Sri Lanka's first GSTC sustainability certified DMC

CLASSIC Destinations, the registered company of Classic Sri Lanka and Classic Wild, has achieved a milestone by becoming Sri Lanka's first Destination Management Company (DMC) to receive the Global Sustainable Tourism Council (GSTC) Certification, the world's leading standard for sustainable tourism.

time to read

1 mins

October 16, 2025

Daily FT

Govt. fast-tracks tourism facilitation ahead of peak season

THE Government has rolled out a series of measures to improve facilities and streamline services for visitors ahead of the upcoming tourist season, with plans to ease visa processing, expand airport capacity, and digitise ticketing at major attractions.

time to read

1 min

October 16, 2025

Daily FT

Daily FT

Priyatha Herath joins MBSL Board

MERCHANT Bank of Sri Lanka and Finance PLC (MBSL) has appointed Priyantha Herath to its Board as an Independent Non-Executive Director.

time to read

1 min

October 16, 2025

Daily FT

Beyond prediction: Rise of explainable AI in financial decision making

FOR decades, financial analysts have relied on a core set of tools and models to assess risk, predict market trends, and guide investment strategies.

time to read

4 mins

October 16, 2025

Daily FT

Sampath Bank and Micro Cars collaborate to deliver unmatched benefits on vehicle purchases

SAMPATH Bank PLC entered into a Memorandum of Understanding (MoU) recently with Micro Cars Ltd., at its Head Office, formalising a partnership that brings together exclusive customer benefits and financial solutions designed to make vehicle ownership more accessible and rewarding.

time to read

1 min

October 16, 2025

Daily FT

SINGER FINANCE and Toyota Lanka join forces to make vehicle ownership easier for Sri Lankans

SINGER Finance (Lanka) PLC and Toyota Lanka Ltd. have announced the signing of a Memorandum of Understanding (MoU) to strengthen customers' access to innovative and affordable vehicle financing solutions in Sri Lanka.

time to read

1 mins

October 16, 2025

Daily FT

Daily FT

Dr. Asanga Tennakoon appointed new General Manager/CEO of RDB Bank

THE Regional Development Bank (RDB), Sri Lanka's premier state-owned development bank, third largest branch network with 272 branches, has announced the appointment of Dr. Asanga Tennakoon as its new General Manager/Chief Executive Officer, effective from 13 October 2025.

time to read

1 mins

October 16, 2025

Daily FT

Daily FT

Hand in hand for better foods and a better future: Partnerships for Sri Lanka’s SDG journey

AS Sri Lanka joins the global community in marking World Food Day 2025 under the theme “Hand in Hand for Better Foods and a Better Future,” the message is clear: achieving food security and nutrition for all requires collaboration that transcends institutional boundaries, sectors, and generations. In a world of increasing shocks and stresses, no single actor can shoulder this responsibility alone.

time to read

3 mins

October 16, 2025

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