Airline

Colombo To Buy Shares Back From Emirates

The is looking to buy back its shares in the national carrier SriLankan Airlines from Emirates.   Emirates bought its 43.6 percent equity stake in 1998 for $70 million dollars, and kept it when it ended its 10 year management contract with the Sri Lankan government in 2008.  The value of Emirates share in the airline increased to $150 million by the end of the contract period. 

Emirates made all management decisions under terms of the contract agreement, which included exclusive rights for ground handling and airline catering at Colombo-Bandaranaike airport.   Near the end of the contract, the Sri Lankan government cancelled the work permit of the airline’s chief executive, Peter Hill, due to a dispute over seats for President Mahinda Rajapakse on a London-Colombo flight. Emirates supported the termination decision, but did not renew the contract because of the governments attempt to gain more control over SriLankan. Now, the government is operating the airline and wants a higher percentage of ownership.
 

More Airline
Big jump in international passengers for Saudi Airlines
flydubai will fly to Tashkent from 11 March 2019
New Istanbul airport starts operations
Latest Travel News
flydubai will fly to Tashkent from 11 Ma...
ATM Dubai to launch Holiday Shopper on 2...
Agoda partners with Saudi Ministry of ...
Featured Sights To See
Old Stone House

Old Stone House

Washington DC, United States

Built in 1765, the Old Stone House is the oldest standing building in the city and was also Washington’s last Pre- Revolutionary Colonial building on its original foundation. Local folklore preserved the house from being demolished. The house was constructed in three phases during the 18th century and since then it has been a boarding house, tavern and shop. The small garden along with the hous...

Otuataua Stonefields

Otuataua Stonefields

Auckland, New Zealand

Otuataua Stonefields is the site of ancient Maori gardens which is on a low volcano.           ...

Stein am Rhein

Stein am Rhein

Zurich, Switzerland

Stein-Am-Rhein is one of Switzerland's loveliest towns.  It's located about 20km east of Schaffhausen, as its name would suggest along the Rhine River.  Stein-am-Rhein was a small fishing village when the Holy Roman Emperor Henry II moved St. George's Abbey here in 1007.  The move was a boon to the city's economy, as the abbey had the ability to mint coins and hold markets.  Fr...

Reunification Palace

Reunification Palace

Ho Chi Minh City, Vietnam

The Reunification Palace, once referred to as Norodom’s Palace and Independence Palace, is a monument of great historic importance to the Vietnamese and the site of many power transfers. First built and used by the French Governors General, the original palace later became the residence of the Prime Minister Ngo Dinh Diem but was leveled and rebuilt after heavy damage in attacks by the Saigon army...