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
Jazeera Airways launches flights to Kara...
Emirates expecting over 500,000 arrivals...
Kazakhstan's new tourist attraction - fa...
Featured Sights To See
Children’s Science Museum-Planet Discovery

Children’s Science Museum-Planet Discovery

Beirut, Lebanon

Planet Discovery is a children’s science museum in Beirut Souks in the heart of Beirut. Children of all ages can discover the secrets of life and the surrounding world. The exhibits stimulate their curiosity and desire for learning. The museum holds interactive experiments, exhibitions, performances and workshops, and awareness competitions. It welcomes handicapped and visually impaired children t...

Al-Sabeen Square

Al-Sabeen Square

Sanaa, Yemen

Address: al-Sabeen Street, off 60 Meters Street Named in remembrance of the two-month long siege during 1967-68, after which the Republican Armed Forces established a Republican Government in the country after overthrowing the Royal Forces and the monarchy. This large public square commemorates the battles fought during that siege. It holds a few monuments, including the popular Monument to the...

Parc Jeanne Mance

Parc Jeanne Mance

Montreal, Canada

A small but popular evening gathering point for local residents. This park contains a large playground with facilities for soccer, tennis, volleyball, badminton, and baseball, and a swimming pool for children.  It's located at the northern base of Mount Royal. ...

Uluwatu

Uluwatu

Bali, Indonesia

This is a temple located on the top of the cliff of the Bukit Peninsula. It was initially made popular by surfers, now is a must-see for all tourists. The views of the ocean are spectacular and if you can, visit the temple at sunset for an evening to remember ...