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Emirates says no plan to buy stake in any airline

(UDHAYAM, COLOMBO) – Emirates has no plans to buy stakes in any airline and airport across the world, the airline has told the Arabian Business.

The Dubai-based airline clarified its stance after Sri Lanka’s State Finance Minister Eran Wickramaratne said informal talks have taken place with those, including Emirates, who have shown interest in investing in its national career SriLankan Airways.

“Emirates confirms it has no plans to acquire a stake in any airline and airport in Sri Lanka or elsewhere,” an Airline Spokesperson told Arabian Business.

“Our business is focused on organic growth and has a pipeline of investments to renew and grow the fleet, expand the global network and continuous innovation of our products and services.”

The airline acquired a stake in SriLankan Airways in 1998 for $70 million, but sold its share for $53 million in 2010.

Speaking to reporters in Colombo, State Minister Wickramaratne said the Government was “in contact with Emirates at the moment” and has plans to hold talks with few other airlines.

“We will not go for outright privatisation of our airline. It will be only equity sharing under the private public partnership model,” he said.

Arabian Business has approached SriLankan Airlines for a comment.

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