SriLankan Airlines reports first profitable fourth quarter since 2006

A statement said: "The airline was able to achieve this financial turnaround through various measures in its financial year including scaling down staff costs and overheads, renegotiating supplier contracts, increasing cargo revenue, and creating an ambitious growth plan capitalising on pent-up travel demand.

"The airline is now back to 75% of the passenger revenue it made pre-pandemic in the fourth quarter of 2019-20. Passenger numbers also rose to near 700,000 for the quarter.”

SriLankan Airlines' acting chief executive Richard Nuttall said: "We anticipate some headwinds in the first half of this financial year with high fuel prices and a short-term dip in demand to Sri Lanka. We have factored in these challenges and are working towards minimising the impact with a strong business plan and a sound turnaround strategy to return to full-year profitability.

“Traffic is expected to recover fully by the end of the year as travel restrictions are eased off further. We will continue to support the tourism industry of Sri Lanka and be a catalyst for economic recovery.”