Colombo: Sri Lanka has failed to attract bids from international airlines to privatise its loss-making flag carrier, but will continue its efforts to salvage the company, a minister said yesterday.
The government received nine offers but none were from a major international airline operator, State Enterprise Development Minister Kabir Hashim said.
Of the proposals received, the government has shortlisted three, including one from TPG, a San Francisco-based private equity firm.
Hashim is heading a new three-member ministerial panel to decide the future of Sri Lankan which has debts and accumulated losses of over $2bn.
Sri Lankan was profitable before Rajapakse cancelled a management agreement with Emirates in 2008 following a personal dispute.
