Mihin Lanka, a low-fare leisure airline based in Colombo, and owned by Sri Lankan government is now being officially liquidated.
The carrier stopped its operations in October 2016, and its routes have been taken over by Srilankan. During its 10 years of operation, the airline accumulated losses amounting up to Rs. 17 billion.
The Mihin Lanka was operating the flights to Dhaka, Chennai and Male out of which Dhaka was the most profitable, which collapsed as Male stopped employing Bangladeshi workers.
Since then Sri Lankan has absorbed 120 of Mihin Lanka’s employees and taken over the operations of flight routes.
Quoting the Chief Executive Officer of SriLankan Airlines Mr. Ratwatte, the newspaper reported, “The Auditor General has closed the books. We have to get that approved, have a last annual general meeting and go into voluntary liquidation. That should happen fairly soon and the air operator’s certificate will be transferred to SriLankan.”
Mihin Lanka started its operations in April 2007 and incurring losses which were accumulated over time and resulted in liquidation.