Sri Lankan has ordered eight A350s with three due in 2016, one in 2017 and another four from 2020 onwards.

Ratwatte said the airline is also forwarding a restructuring program to run the airline profitably.

Speaking to Daily News Business at the launch of their new website he said that he personally feels that they could turn around the airline. “We will look at new partnerships, new routes, cut non profitable routes and look at more cost cutting measures,” he said.

The CEO a former pilot with Emirates for over 15 years said that physically they have to pay US$ 500 million to banks. “However the airline is currently incurring huge overheads since most of the payments are being made in US Dollars.

“We even pay the Petroleum Corporation in US Dollars and due to this we face a huge exchange loss.”

He said their regional routes are successful and bring in profits. “However we now see a dip from the Middle East route since we have to compete with low prices that are being offered by both full service and low cost carriers.”

Asked if the alliance with ‘oneworld’ has had a positive impact he said that it has been a good move. It has given the airline access to a bigger network.”

Commenting on Mihin Lanka he said it was a smaller operation compared to Sri Lankan. “Its losses are not very big,” he said.

The CEO said that however that the Mihin Lanka operational model is not satisfactory. “We have to re position it as a fully fledged budget airline and we’re not doing this.”

Commenting on the newly revamped website www.srilankan.com with vastly improved features that are aimed at providing an enhanced customer service experience from the very first moment a person visits the site, he said this will woo more passengers to the airline.

“It has the facility to book online and pay via four selected banks within 48 hours after making the payment without going to SriLankan airline offices.”

(dailynews.lk)