In the event of the borrower (SriLankan) fails to repay the loans, the guarantor (treasury) has to pay it back.

By the end of last year, SriLankan had Rs. 30,172 million of unpaid bank loans, while suffering an operational loss of Rs. 8,400 million.

A committee that investigated irregularities committed by Nishantha Wickramasinghe has handed over its report to the prime minister.

Nishantha Wickramasinghe is former president Mahinda Rajapaksa’s brother-in-law.