SriLankan prepares new strategic business plan

_A Monitor Report16 Apr, 2019 | 307 Views|-+
Dhaka : SriLankan Airlines has laid out a new five-year "Strategic Business Plan" for the period 2019-2024 with a view to transforming itself into a financially viable airline group with high brand visibility and a global reputation for excellence.

Ensuring the above, the airline aims to turn Sri Lanka into a strategic hub for air travel and air cargo in the Asia-Africa-Middle East region.

The Strategic Business Plan was prepared entirely by the management of the airline under the guidance of the Chief Executive Officer of the national carrier and the Board.

The national carrier provides enormous contribution to the GDP of Sri Lanka in many different areas - export, import and leisure. Also, a corresponding increased contribution to the nation's economy by the airline can be foreseen as the airline grows.

Vipula Gunatilleka, CEO, SriLankan Airlines, said, "A business without a strategic plan is like a ship without radar. Irrespective of the challenges the national carrier encounters, the business must go on. Hence it is important to have a clear vision and strategy if the airline is to become a financially viable entity. The Strategic Business Plan is to be presented for approval to the company's shareholder, the Government of Sri Lanka."

The Strategic Business Plan includes competitive cost structure through a greater cost consciousness for the company.

SriLankan Airlines has already won several global accolades this year including one "First Star" and two "Second Stars" at the world's largest travel trade event ITB Berlin in 2018.

The Strategic Business Plan has taken into consideration the varied impact of a wide range of market forces that affect the global air transport industry and in particular the region's industry, including competitors, customers, suppliers and major costs such as fuel and currency fluctuation.

The plan also calls for the strengthening of the route network through codeshare partnerships and alliances, especially by optimising opportunities with oneworld member airlines. The carrier intends to continue being a catalyst for the development of Sri Lanka's tourism industry by aligning its network with the country's tourism strategy and carrying out joint marketing efforts with Sri Lanka Tourism.

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