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SriLankan Airlines’ new plan to be like Emirates

April 16, 2019 by Forimmediaterelease

In a bid to turn the loss making airline into a profitable venture, SriLankan Airlines has come up with a five-year strategic plan. Part of the plan will see them emulating industry leader Emirates, with a new hub and spoke network model.

In a statement SriLankan Airlines said:

“SriLankan Airlines has formulated a new five-year Strategic Business Plan for the period 2019-24 with the objective of transforming itself into a financially viable organization airline group with high brand visibility and a global reputation for excellence,”

They went on to say that the national carrier had an ‘enormous contribution’ to make to the GDP of Sri Lanka, including import, export and tourism.

What is SriLankan Airlines planning?

Their latest five year strategic business plan includes major development of the Colombo hub to make it a key connecting point for a variety of markets. SriLankan are targeting passengers connecting through Africa, Asia and the Middle East, in a bid to grow as big as rival airline Emirates.

As a member of Oneworld, SriLankan are hoping to leverage their membership to develop their network for the future. In contrast to their current point to point model, they plan to work on more of a hub and spoke model to develop new opportunities.

The plan is to be presented to the Government of Sri Lanka for approval shortly.

New routes and fleet

Currently, SriLankan Airlines operate with a fleet of 27 Airbus aircraft. Specifically, these are 13 A320 family aircraft and 14 A330s. As part of the five year plan, the carrier intends to select new fleet inclusions which match the requirement of their developing route network. They have also said they want to reconfigure their existing fleet to offer an enhanced business class service.

Already, the airline has announced a fifth weekly service between Colombo and Tokyo from July onwards, using its Airbus A330-300s. If the plan is formalized by the government, we expect to see many more new route announcements over the coming weeks.

As well as routes and fleet, the plan specifies that it will:

  • Enhance the customer experience by improving customer-centricity throughout the airline
  • Adopt best practices to improve productivity
  • Grow online sales to reach a wider market in a more cost effective manner
  • Improve employee engagement
  • Implement a competitive cost structure through a greater cost consciousness throughout the company

The plan is being headed up by Group Chief Executive Officer Vipula Gunatilleka, who was appointed to the airline in mid-2018. Prior to joining SriLankan, Gunatilleka was a board member and CFO of TAAG Angola. There, he worked closely with Emirates while they were managing TAAG, so no doubt knows his hub and spoke business very well already.

A loss-making airline

The airline is undergoing a major shakeup with a view to turning a profit. Over the last nine months, the carrier’s net loss more than doubled to a total loss of $135m. It is hoped that the five year strategic plan being tabled today will transform the airline by 2024.

 

Travel News | eTurboNews

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United Airlines appoints new VP

April 5, 2019 by Forimmediaterelease

United Airlines today announced Michael Leskinen has been named vice president of Corporate Development and Investor Relations. Leskinen currently serves as managing director of Investor Relations. In his expanded role Leskinen will also lead United’s strategic investment activities including United’s investment activity in partner airlines.

“Mike’s experience as an investor and knowledge of the industry, along with his success in building strong shareholder relationships, make him the right executive to also lead our corporate development efforts,” said Executive Vice President and CFO Gerry Laderman.

“We have demonstrated that United is on the right path with our strategic plan and have just begun to realize United’s full potential. As we look to the future, we will continue to make disciplined investments that further our competitive advantages. Mike’s background makes him uniquely qualified to weigh those investments against the intrinsic value in our own shares,” said President Scott Kirby.

Leskinen joined United in January 2018 and in that time has played a vital role in improving the company’s relationship with shareholders. Prior to joining United, Leskinen was an executive director at J.P. Morgan Asset Management, where he led the firm’s investment efforts in aerospace, defense, and airlines.

Leskinen received his bachelor’s degree in finance from Arizona State University and his M.B.A. from the University of Pennsylvania. Leskinen will report to Laderman. Leskinen and his wife live in Chicago and have three daughters.

Travel News | eTurboNews

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