SriLankan Airlines renegotiates A350 contracts: report

Oct 03, 2016 (LBO) - National carrier SriLankan Airlines has re-negotiated the termination of three A350 Airbus lease contracts with airline leasing company AerCap, a media report said. The company has agreed to reduce the termination fee to 98 million dollars from 154 million dollars, a Sri Lankan Airlines official told the Sunday Times on the condition of anonymity.

Re-structuring of the airline, including sorting out the termination leases, would have been delayed if this offer wasn't accepted, he said. One A350 aircraft has been off-loaded with a penalty of 17.5 million dollars. Four other A350 aircraft that SriLankan Airlines was to take delivery of in 2019-2020 would be cancelled, Prime Minister Ranil Wickremesinghe said in April. Seven A330 aircraft and eight A350s in total were ordered during the previous regime in a 2.

6 billion dollar deal. Of the A330s one aircraft has already been vested in Pakistan International Airlines with two more to follow, the Sunday Times reported.