SriLankan Airlines, on Friday made a profit warning for the current financial year, but said group profits will remain steady as the previous year.rn
As a stand-alone entity, SriLankan has never made a profit in its entire history, but the Emirates led management is confident of turning things around for the financial year ending 2003/4.rn
rnSriLankan said it is likely to end the year ldblquote with a substantially smaller loss of around US$10 mn to US$ 15 mn, compared to the previous financial year when the airline as a stand-alone operation made a US$ 60 mn loss. dblquotern
rnHowever, group numbers, which includes revenues from catering and ground services, has made profits. The statement did not say by how much.
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rn
rnThe airline, which is 40 percent owned and managed by Emirates Airlines, made a profit of Rs. 2.0 bn during the fiscal year ended March 31, 2002, a reversal from a loss of Rs.
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5.8 bn in the previous year.rn
rnProfits came, after the airline shed its obligations to pay for lease r