SriLankan Airlines' earnings fall 134% YoY to Rs. 2.7 b loss

Annual report shows shareholder funds at a negative Rs. 379.5 b for FY 2024/25 Loss after Rs. 7.9 b profit previous year from unscheduled Rs. 2.2 b engine repair costs, Rs. 31.6 b net finance charges Passenger revenue down 15% YoY to Rs. 234.5 b Unpaid International Bonds with interest $ 211.57 m

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NATIONAL carrier SriLankan Airlines reported a Rs. 2.73 billion loss for the year ending 31 March 2025, compared with a profit of Rs. 7.9 billion the previous year, its annual report showed, a reversal representing a decline of about 134.6 percent% year-on-year.

Revenue fell 10.8% to Rs. 303 billion from Rs. 339.6 billion, while operating expenditure decreased 11.7% to Rs. 276.3 billion from Rs. 313 billion.

Total assets declined 6.1% to Rs. 189.2 billion from Rs. 201.6 billion, while shareholders' funds remained negative at Rs. 379.5 billion, a marginal improvement of 0.6% from the previous year's negative Rs. 381.7 billion.

"The Airline recorded a net loss of Rs. 7.6 billion after accounting for unscheduled engine repair costs of Rs 2.2 billion and net finance charges of Rs. 31.6 billion," Acting CEO and Group CFO Yasantha Dissanayake said.

He said that passenger revenue declined by 15% YoY to Rs. 234.5 billion, primarily due to capacity limitations, global reduction of yields and the impact from exchange rate, since Sri Lankan Rupee exhibited an appreciation during FY 2024/25.

In contrast, the cargo segment posted a 2% increase in revenue over FY 2023/24.