The government has officially announced its call for bids regarding the divestiture of SriLankan Airlines, the national carrier facing significant financial challenges.
Minister of Ports, Shipping & Aviation, Nimal Siripala De Silva, confirmed that Invitations to Tenders (ITTs) have been issued through both local and foreign media outlets and websites.
The divestiture process will consist of a two-stage competitive bidding process, starting with the Request for Qualification (RFQ) stage, followed by the Request for Proposals (RFP) for the Proposed Transaction. The Ministry of Finance, in its notice for RFQs, highlighted that the Sri Lankan government is actively working towards restructuring and addressing the debts and liabilities reflected in the airline's latest financial statements. Interested bidders are invited to submit their prequalification applications between 9 a.m. and 2 p.m. on December 05.
Following the application period, prequalified bidders will be selected on December 19. This move signifies the government's commitment to finding a suitable solution for SriLankan Airlines' financial challenges, allowing for potential investors to participate in the divestiture process and contribute to the future of the national carrier.
