SriLankan profits rise five-fold
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SriLankan Airlines has announced a five-fold rise in full-year profits, Bloomberg has reported. For the year ending 31 March 2008, the airline’s net income rose to 4.9 million rose fivefold after airplane sales outweighed surging fuel costs and the effect of the country’s civil war.
Net income rose to LKR4.9 billion (US$45.5 million), up from just LKR862 million (US$8.0 million) a year earlier. However SriLankan added that the profits were due to the sale of three Airbus A340 aircraft, and that the figures masked a LKR588 (US$5.5 million) operating loss caused by high jet fuel prices and the continuing civil war.
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