Srilanka, Feb. 18 -- As attempts to divest the state ownership and attract private investments have been unsuccessful, national carrier SriLankan Airlines is slated to receive Rs.20 billion to repay the old debts.

The government yesterday said it would sign an agreement with the banks and set aside Rs.10,000 million for loan capital repayment in 2025 as well as Rs.10,000 million for interest payments.

"The airline would be fully responsible for ensuring operating profitability once these legacy debt service costs are settled by the government," President Anura Kumara Dissanayake said while delivering Budget 2025.

A new medium-term strategic plan would be devised by the company towards this end, he added.

The national carrier's finan...