SriLankan airLineS

SriLankan Airlines

Annual Report 2017/18

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Contents

COMPANY AND REPORT OVERVIEW

Our Vision and Our Mission

2

Financial Highlights

3

MANAGEMENT REPORTS

Chairman's Message

4

Board of Directors

7

Senior Management

11

Enterprise Risk Management Framework

14

Management Discussion and Analysis

16

FINANCIAL REPORTS

Annual Report of the Board of Directors

45

Board Audit Committee Report

50

Statement of Directors' Responsibilities

51

Independent Auditors' Report

52

Statement of Financial Position

54

Statement of Profit or Loss

55

Statement of Comprehensive Income

56

Statement of Changes in Equity

57

Statement of Cash Flows

58

Notes to the Financial Statements

59

annexes Ten Year Review Route Map Milestones Glossary Notice of Meeting Form of Proxy

Corporate Information

102 104 106 108 109 111

Inner Back Cover

SriLankan Airlines | Annual Report 2017/18

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Our Vision To be the most preferred Airline in Asia

Our Mission

We are in the air transportation business. We provide our customers with a reliable and pleasant travel experience. We provide our business partners with a variety of innovative, professional and mutually profitable services. We meet shareholder expectations of profitably marketing Sri Lanka and contributing towards the well-being of society. We are a competent, proactive and diligent team. Our contribution is recognised and rewarded.

SriLankan Airlines | Annual Report 2017/18

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financial highlights

Group Group 2018 2017

Company 2018

Financial

Revenue

LKR. Mn

164,859.51

138,590.83

161,654.46

Operating Expenditure

LKR. Mn

(175,254.73) (146,080.65) (176,104.44)

Loss Before Tax

LKR. Mn

(18,579.23)

(28,314.26)

(17,213.57)

Net Loss for the Year

LKR. Mn

(18,585.15)

(28,339.51)

(17,213.57)

Total Assets

LKR. Mn

71,585.14

55,413.77

67,566.96

Shareholders' Funds

LKR. Mn

(125,582.89) (107,793.52) (132,196.34)

Traffic

Passenger Capacity

ASK Mn

18,487.54

Overall Capacity

ATK Mn

2,549.88

Passengers Carried

RPK Mn

15,280.78

Overall Load Carried

RTK Mn

1,749.14

Passenger Load Factor

%

82.65

Overall Load Factor

%

68.60

Breakeven Load Factor

%

81.90

Staff Productivity

Average Strength

Nos.

8,090

8,029

7,019

Revenue per Employee

LKR. Mn

20.38

17.26

23.03

Aircraft Fleet

A320-200

Nos.5

A321-200

Nos.3

A320neo

Nos.2

A321neo

Nos.3

A330-200

Nos.6

A330-300

Nos.7

Aircraft in Service at Year End

Nos.

26

Company 2017

135,491.19 (146,760.81)

(28,929.99) (28,929.99)

51,633.63 (115,766.64)

15,608.10 2,167.92

12,455.05 1,475.29 79.80 68.05 80.91

7,021 19.30

6 3 2 6 7 24

Revenue LKR BN

180 160 140 120 100

80 60 40 20

0 2014

2015

2016

2017

2018

No of Online Destinations Vs Aircraft Fleet

45 40

35

30 25

20 15 10

5 0

2014

2015

2016

2017

No of Online Destinations

Aircraft Fleet

2018

SriLankan Airlines | Annual Report 2017/18

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