Court halts SriLankan shutdown

SriLankan Airlines has been granted a critical legal extension by the Colombo Commercial High Court, temporarily blocking any move to liquidate the national carrier. The court ruling comes in the wake of a dispute over a USD 209 million bond default, which had placed the airline under serious financial threat.

With the stay order in effect until July 30, the airline has been given a narrow window to continue operations while the Sri Lankan government steps up high-level negotiations with international bondholders. Officials hope the additional time will allow for a workable agreement to be reached, avoiding a potential collapse of the state-owned enterprise.

The government has indicated it is committed to protecting national interests and is actively pursuing debt restructuring options to ensure the airline’s long-term survival.

 

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