AirAsia Consulting engages IFC on SriLankan Airlines divestiture

PETALING JAYA: AirAsia Consulting planned for a further engagement with the International Finance Corporation (IFC), which is mandated to advise the Sri Lanka government on the divestiture of SriLankan Airlines Ltd.

The consultancy was responding to the latest news report on AirAsia being among six bidders for Sri Lanka’s state-run carrier SriLankan Airlines since the island nation was looking to reduce losses incurred by government-owned enterprises under a US$2.9 billion (RM13.8 billion) International Monetary Fund (IMF) programme.

AirAsia Consulting CEO Subashini Silvadas said as per the consultancy’s mandate, it was involved in the request for qualification (RFQ) process for SriLankan Airlines.

“Currently, it is in the prequalification stage, and no purchase price bid or cash was involved,” she told Bernama.

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If selected, she said that prequalified bidders will be given the opportunity to conduct due diligence on SriLankan Airlines.

“Nevertheless, we are bound by confidentiality obligations and unable to disclose specific details at this time,” she added.

Established in April 2021, AirAsia Consulting, which is soon to be renamed Capital A Consultancy, specialises in reviewing airline partnerships, franchise opportunities and offers consultancy services to airlines globally.

It operates under Capital A Aviation Services, which comprises maintenance and engineering service provider Asia Digital Engineering (ADE), food services company Santan, ground handling company GTR, and the shared service centre DARTS.

According to the news report, the consultancy has submitted an RFQ from potential investors for the acquisition of shares in SriLankan Airlines.

Other bidders named were Dharshaan Elite Investment Holding (Pvt) Ltd, FITS Aviation (Private) Ltd, Sherisha Technologies Private Ltd, Treasure Republic Guardians Ltd, and local conglomerate Hayleys PLC.

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