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Demoto Tenakon, Head of Global Sales and Distribution at SriLankan Airlines, has confirmed that SriLankan Airlines has recorded a quarterly profit in the fourth quarter (Q4) for the first time since 2006 for the fiscal year ending March 31, 2022 with a profit net of 1.7 million for the US Dollar group.
On the sidelines of SriLankan Airlines’s participation in the Arabian Travel Market 2022, Tinacon noted that the company is strengthening tourism relations between the island of Sri Lanka and the UAE, as it has 14 weekly flights departing from Abu Dhabi and Dubai, and Flights weekly from the UAE will increase to 18 flights starting in November this year.
DeMoto highlighted the success of SriLankan Airlines’ recent participation in the Dubai Expo, which enabled it to conclude many important agreements in the field of tourism, which is also happening through the Arab Travel Market, and the opportunity to meet with decision makers on the trip. sector. Assyria praised the Gulf tourist, and according to reports, the Emirati tourist spends the most in Sri Lanka, especially with the revival of family tourism from the Emirates, followed by the Saudi and Kuwaiti tourists.
The airline was able to achieve this financial improvement thanks to various measures taken in fiscal year 2021-2022, including cost reduction; renegotiation of supplier contracts; Increase freight revenue and create an ambitious growth plan that benefits from limited travel demand.
The initiatives paid off, as Sri Lanka achieved its first monthly profit since the outbreak of the Corona virus in December 2021, to continue to make a profit in the last quarter. The company has managed to post more than $ 12 million in profits over the past four months, with air traffic returning to normal after the pandemic.
DeMoto noted the Sri Lankan expansion initiative without launching flights to several new destinations last year, including Seoul, Moscow, Kathmandu and Paris.
The number of flights has also gradually increased across the airline’s network of destinations in line with the global travel industry recovery and growing demand. The airline has also carried out major campaigns to promote tourism and attract tourists to the country, including a major initiative in India, promotions supporting new airlines and most recently sponsoring the popular French annual adventure trail, Raid Amazones, in March of this year.
The company has now returned 75 per cent of the passenger revenue it generated in the pre-pandemic period in the last quarter of 2019-2020. In contrast, the number of passengers also increased to around 700,000 in the quarter.
The airline is making solid progress towards matching pre-pandemic levels as demand for international travel has returned. The reward is not limited to the airline, as it remains by far the largest carrier of tourists in Sri Lanka. Sri Lanka is also a source of foreign exchange for the country, as a large part of its revenue is generated by international markets.
SriLankan Airlines prepared for the busy summer of 2022 by increasing the number of scheduled flights by 40 per cent to meet pre-pandemic levels and meet growing demand for air travel as the industry continues to recover.
The increase in the number of flights will take effect in the online network of Sri Lankan destinations with the start of the airline’s summer flight schedule. The new schedule will facilitate smoother airline operations and provide customers with greater flexibility, convenience and connectivity.
One of the most significant changes was in Sri Lanka operations in India, which were drastically limited at the height of the pandemic. India has finally reopened its airspace to commercial passenger flights after two years of blockage.
To celebrate this encouraging development, Sri Lanka will nearly double the number of weekly flights to India to more than 100. Other planned increases in frequency in cities on the Indian subcontinent include the operation of an additional weekly flight to Gan, Maldives and Lahore. , Pakistan.
Sri Lanka also plans to match the number of weekly flights to Abu Dhabi, Riyadh, Muscat and Seychelles in the Middle East and Africa regions with the level of its operations before the outbreak.
Frequencies to certain destinations in the Far East and Oceania will also increase gradually in the coming months.
Daily flights to Kuala Lumpur have already been introduced, while daily flights to Melbourne will operate until May and Bangkok and Jakarta until July this year.
Furthermore, an additional weekly flight to Narita is scheduled from July 2022. The new destinations are also part of the plan and commercial passenger flights to Seoul, Korea will launch in May 2022.
SriLankan Airlines earns much-needed currency for Sri Lanka, with nearly 85 percent of the company generating foreign exchange earnings.
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