Record financial performance by SriLankan Airlines

SriLankan Airlines achieved an unprecedented level in commercial performance during the months of July and August 2002.

For the first time in many years, profits were earned purely as an airline, as opposed to the group.

The cabin factor, a key indicator of commercial performance, registered 85.5% in August, which is among the highest cabin factors ever achieved by the airline (March 2002 was the highest at 86.03%). July registered an almost as impressive 85.06%. These were the highest cabin factors for the months of July and August since the inception of the airline.

In 2002, the highest cabin factors were registered also for the months of February (82.05%), May (74.14%) and June (79.73%). April 2002 with 75.91% had the second highest cabin factor for that month since the airline's inception.

In July and August 2002, targets were achieved and surpassed in respect of cabin factors, number of passengers, and revenue. In addition, August 2002 achieved its yield target.

"These two months were among the best in SriLankan Airlines' 23-year history," says SriLankan's Head of Commercial G T Jeyaseelan. "All our planning, risk taking and hard work is yielding dividends."

One impressive aspect of the airline's performance is that virtually every destination on its route network contributed towards achieving this success, from the Middle East to the Far East, Indian sub continent and Europe.

"This proves beyond doubt that our rationalization of routes late last year, where we took a calculated decision to suspend less profitable routes and increase frequencies on more profitable ones was the correct decision at a time when the global aviation industry was tottering," says Jeyaseelan. 

"While the entire airline has been working together to improve its performance, bold decisions such as restructuring and moving the Revenue Optimization department to Dubai to work closely with SriLankan's strategic partner Emirates paid rich dividends," he says. "It enabled us to ensure that every seat on every flight gave us the maximum yield."