The ownership and management of SriLankan Airlines should remain within Sri Lankan hands as tourism is crucial to Sri Lanka’s national interests, SriLankan airlines CEO Richard Nuttal has said in a keynote interview at the Aviation Festival Asia 2025.
“It’s strategically important for Sri Lanka and therefore the control should be within Sri Lanka. So I think the view is that as far as possible that investment should be Sri Lankan. Now, the debate is going on at the moment as to how that actually operates. Is it the airline, is it subsidiaries, is it government money, is it public private partnerships, is it to go to the stock market,” Nuttall explained.
When asked about the possibility of a strategic partnership, Nuttall confirmed it. However, he acknowledged that the airline is exploring different options for securing future investment, which may include public-private partnerships or even stock market listings.
“Decisions have not been made on that, but there are options and because of the growth of tourism and the growth of foreign airlines, the multiples are much more favourable than they would have been two years ago. So there are more options on the table, but the plan at the moment is as far as possible to keep the ownership and management within Sri Lanka,” he said.
He further stated that as Sri Lanka’s economy recovers and tourism returns, SriLankan Airlines is benefiting from an operationally profitable period, marking three years of consistent performance. Nuttall emphasised that the airline is now focusing on expanding its fleet and services to accommodate rising demand.
Nuttall shared that SriLankan Airlines is currently working on a business plan that aims to double the size of the airline within the next five years.
Nuttall explained that, in the short term, the airline plans to lease aircraft as they become available, noting that competition in the leasing market has driven up costs. He acknowledged the importance of planning for the long-term, especially considering the need to replace the airline’s aging fleet, particularly the A330s.
The airline’s initial focus will be on increasing the frequency of flights to existing destinations, Nuttall expressed, pointing out that the competition in the region has intensified, with airlines from Southeast Asia doubling their capacity to Sri Lanka over the past year.