Double Whammy!

SriLankan Airlines group net profits slumped 75 percent last year, dragged down by hefty oil bill and a fall in passenger numbers following the Dec. 26 tsunami, the airline said Monday.

SriLankan Airlines group net profits slumped 75 percent last year, dragged down by hefty oil bill and a fall in passenger numbers following the Dec. 26 tsunami, the airline said Monday.

Partly owned by Dubai's Emirates Airlines, SriLankan reported Rs. 1.34 billion net profits for the financial year ending March 31, 2004/5 over Rs. 5.63 billion reported over the previous year.

As a standalone operation, the airline made a Rs. 7.66 million net profit over Rs. 4.55 billion in 2003/4.

SriLankan Catering continued to perform well posting net profits of Rs.

1.37 billion over revenues of Rs. 2.49 billion during 2004/5.

Group revenues were up 18 percent to Rs.
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54.72 billion during the period under review.

"This Airline has a long-standing tradition of rising to face the challenges that spring up in its path, and the year under review was true to form. Although buffeted by nature's fu