Wednesday, July 22 2026
Wednesday, July 22 2026
TAX FUNDED : SriLankan Airlines has kept US$63Mn of embarkation levy for working capital
MONETABRIEF – State-run SriLankan Airlines has not paid 63 million US dollars in embarkation levy charged from passengers and due to the airport agency and used it for working capital, Director General of Public Enterprises Thushara Rodrigo said.
From 60 dollars charged from departing passengers, 40 dollars has to be paid to the Treasury Consolidated Fund, 15 dollars to the Airport Aviation Services (Sri Lanka) Limited and 5 dollars to the Sri Lanka Tourist Board.
SriLankan Airlines had not paid the 15 dollars to AASL up to December 2024, but has settled the dues from 2025.
"Prior to December 2024, the accumulated figure is 63 million US dollars," which is about 20 billion Sri Lanka rupees, Rodrigo told the parliament's Committee on Public Enterprises.
"We have to find a proper solution to that. Both are 100 percent government owned SOEs."
"They have collected and they have kept for day-to-day cash operations."
If a private company had not paid the money, the directors would have been "taken in" COPF member Ravi Karunanayake commented which the Treaury officials agreed was "Very correct."
"So why do you allow the wrong notion to be given to public companies?," Karunanayake asked.
The government has appointed a committee to restructure SriLankan Airlines and there was a discussion with the Treasury Secretary also on how to recover the money, Rodrigo said.
The Treasury has taken 300 million dollars in debt from state banks and a 175 million dollar bond which is being settled with taxpayer funds, he said.
Sri Lanka government paid 60 million dollars in cash and settled the rest in 0.4 percent government sovereign bonds for the 175 million dollar Treasury guaranteed bonds and accumulated interest with 15 percent haircut.
The government had to settle 27.4 percent of the bond in April 2026, another 27.4 percent in 2027 and the balance 45.2 percent in 2028. (Colombo/July20/2026)
| US Dollar | 340.98 | Sell - |
| Euro | 391.44 | Sell - |
| Japan Yen | 2.114 | Sell - |
| Sterling | 458.31 | Sell - |
| AED | 91.58 | Indi - |
| 3 month bill | 10.13 | .08 ▼ |
| 12-m bill | 10.20% | .01 ▼ |
| Gold | $4035 | - - |
| ASPI | 21,417.80 | 7.19 ▼ |
Comments
Be the first person to comment and join the debate