Mihin Lanka Nearly Bankrupt

[The Don]

Found this article on the web !

http://www.nation.lk/2008/04/20/news8.htm

Seems the white Elephant was a massive waste of public money for very little gained.

Just reaffirms what a lot of people think about a certain Chinthanaya. The most worrying thing is after years of profitable running under Emirates the government stepping in to take control of the management Sri Lankan Airways and I wonder if this would also be the end of Sri Lankan ........ but the most likely scenario is that as usual the tax payer would have to foot the bill of mismanagement and corruption !

[Ripper]

Found this article on the web !

http://www.nation.lk/2008/04/20/news8.htm

Seems the white Elephant was a massive waste of public money for very little gained.

Just reaffirms what a lot of people think about a certain Chinthanaya. The most worrying thing is after years of profitable running under Emirates the government stepping in to take control of the management Sri Lankan Airways and I wonder if this would also be the end of Sri Lankan ........ but the most likely scenario is that as usual the tax payer would have to foot the bill of mismanagement and corruption !

this was a failure even when it was in concept stage and it should've never been executed...

thanks to the sheer ignorance by our so called leaders who love these ego trips the people of this country has to suffer yet again...

making business decisions purely based on personal and political reasons against good business intelligence is sheer stupidity in an enormous scale...

wonder if this will ever stop

[xXx]

Since Emirates hold a key slice of the national carrier I doubt they’ll be able to run havoc like they did with mihini. The rumor is man who’s responsible in initiating the budget air line concept and then running in to the ground is to take over the hambanthota port project. Not too sure about the new Nissan GTR but the way things are going we may soon be able to set our site on a Maybach or a RR very soon in SL shores lol.

[Mean Green z28]

wow, this is sad

[Arc Angel]

Since Emirates hold a key slice of the national carrier I doubt they’ll be able to run havoc like they did with mihini. The rumor is man who’s responsible in initiating the budget air line concept and then running in to the ground is to take over the hambanthota port project. Not too sure about the new Nissan GTR but the way things are going we may soon be able to set our site on a Maybach or a RR very soon in SL shores lol.

wasn't keeping close tabs on this story, so correct me if I'm wrong. If i'm not mistaken, isn't the emirates involvement in sri lankan said to expire (or has it already happened?)?

[xXx]

To be honest I’m not 100% sure either but my understanding is Emirates own 40 odd percentile in Sri Lankan hence the seat in the BOD. Management of the whole organization was contracted to them and it is that particular contract that expired recently.

[sharkster]

To be honest I’m not 100% sure either but my understanding is Emirates own 40 odd percentile in Sri Lankan hence the seat in the BOD. Management of the whole organization was contracted to them and it is that particular contract that expired recently.

i think you're right... emirates still owns the 49% stake but no longer manages the airline...

[maithri]

51% belongs to the Govt.aka-ra****kse co.

Every thing is possible given 10%

What a life-we make it worse by courting all the Pirayah states in the world to beg from them a mere pittance.

Mind you even hitler was elected!

MG

[madmax]

51% belongs to the Govt.aka-ra****kse co.

MG

It is now ra****kse holdings! and growing further. Even before Mihin Lanka took off, people were sure of an obvious failure as the man who was behind it had a long list of failures and a shady past. Ask anyone who is in the business sector!

Plus I believe Mihin Lanka was funded by money borrowed from the Employee Trust Fund! And that's our money!

[xXx]

It is now ra****kse holdings! and growing further. Even before Mihin Lanka took off, people were sure of an obvious failure as the man who was behind it had a long list of failures and a shady past. Ask anyone who is in the business sector!

Plus I believe Mihin Lanka was funded by money borrowed from the Employee Trust Fund! And that's our money!

let not even talk about that idiot. him been the chinthanayas right hand man shows the mindset of the honorable excellency. as we are on the subject, he was rejected UNP membership some time due to his shady business handlings. and this was while his father was quite close the Mr. Wicky.

on top of the use of EPF two state banks merged simply to fund and back the project.

and now we are entering a whole new era by piggy backing Ahamadinejad

[Arc Angel]

and now we are entering a whole new era by piggy backing Ahamadinejad

Precisely. sad state of affairs...

[kotte mafia]

mihin lanka how to start ..... ya ..u should be proud of another carroir to see in the skies except srilankan airlines... but all has not gone as to plan with mihin lanka i guess i travelled once in it and felt really scared man ... when is this gona fall down ... feeling ,... and most of the seats were empty tooo ... asa plan u should hv full seats or else how r u gona get profit out of that ..and the trip i gues was realy a loss not a gian to the airline cos if u compair the cost to the profit theres none really and ur running (-) so i guess i don't need to explain more on that .... and i heard that we never bought the plans which we use it's rented on i guess wet lease .... and the flights were crap ...

and irani president man iran is very rich and the price of oil is cheaper than the price of petrol .... they buy petrol in berals man not like us .... so if he can bring that oil to SL for less price all of us can drive here and there with eaze so as a srilankan i hope this Ahamadinejad wil give us petrol for less price so we can play with our toys more not thinking much on the cost of petrol

[Ripper]

and irani president man iran is very rich and the price of oil is cheaper than the price of petrol .... they buy petrol in berals man not like us .... so if he can bring that oil to SL for less price all of us can drive here and there with eaze so as a srilankan i hope this Ahamadinejad wil give us petrol for less price so we can play with our toys more not thinking much on the cost of petrol

[Arc Angel]

wishful thinking at it's best...

Edited April 29, 2008 by Arc Angel

[kotte mafia]

[Watchman]

mihin lanka how to start ..... ya ..u should be proud of another carroir to see in the skies except srilankan airlines... but all has not gone as to plan with mihin lanka i guess i travelled once in it and felt really scared man ... when is this gona fall down ... feeling ,... and most of the seats were empty tooo ... asa plan u should hv full seats or else how r u gona get profit out of that ..and the trip i gues was realy a loss not a gian to the airline cos if u compair the cost to the profit theres none really and ur running (-) so i guess i don't need to explain more on that .... and i heard that we never bought the plans which we use it's rented on i guess wet lease .... and the flights were crap ...

and irani president man iran is very rich and the price of oil is cheaper than the price of petrol .... they buy petrol in berals man not like us .... so if he can bring that oil to SL for less price all of us can drive here and there with eaze so as a srilankan i hope this Ahamadinejad wil give us petrol for less price so we can play with our toys more not thinking much on the cost of petrol

ok, am i the only one who didnt understand what exaxtly K_M is trying to say?

Btw, mafia, are you in Sri Lanka or overseas? cos from your posts first i thought u were in Australia, then Sri Lanka, now you sound like you're from the middle east hehehe..

Edited April 29, 2008 by Dilesh

[madmax]

Btw, mafia, are you in Sri Lanka or overseas? cos from your posts first i thought u were in Australia, then Sri Lanka, now you sound like you're from the middle east hehehe..

Mafia has it's root in every dark corner of the world!

[Pericles]

but all has not gone as to plan with mihin lanka

I might be wrong, and I might be pessimistic, but I have a feeling its gone exactly according the plan of who ever was running it. Divert a large amount of funds into pocket. Mission accomplished.

[fatjoe]

just to add guys, Its the EPF of urs and mine which is down da drain.

[Ripper]

just to add guys, Its the EPF of urs and mine which is down da drain.

what really cheeses me off is that most people still don't get the fact that these guys are really ripping us off

[The Don]

what really cheeses me off is that most people still don't get the fact that these guys are really ripping us off

Thats cos a lot of the supporters of the Chintanaya do not pay income tax or EPF / ETF

And to add to that we have the Sinhalese nationalists who are forever optimistic about the war, and skilled politicians have managed to manipulate these emotions and make a business out of it.

And when these things go wrong, and put gaping holes in state banks, the treasury and now the retirement funds, they simply tax the hell out of fuel and our poor motor cars to fill the gap !

I guess this is why there is a strong argument why the state and business should be two separate entities in a market economy, irrespective of the obvious advantages brought about by state run businesses decisions in the end tend to be taken on political grounds not economic grounds running these businesses to the ground.

I'm not sure of the exact reason which caused Mihin to collapse like this because there is obviously a demand for low cost travel to the Middle East and the sub continent and there is a void left behind by certain airlines like Gulf Air pulling out of the routes. So this is simply a case of mismanagement at its very best.

[xXx]

Thats cos a lot of the supporters of the Chintanaya do not pay income tax or EPF / ETF

Actually they do. Most of the people who follow Chinthanaya do so coz of his war propaganda. I really hate to bring up the topic on war in this forum as it’s a bit of sensitive subject and I don’t want to offend the patriots in this community as I’ve done so in the past. I came across this article today morning and I like to extract a certain paragraph that shows what a lie this government is leading.

‘……In an analysis of the casualty figures, the AFP has pointed out that in the beginning of this year, the SLA had given the total strength of the LTTE as about 3000, but the total number of fatalities which the SLA has claimed to have inflicted on the LTTE since January 1,2008, is 3105, when one adds up all the figures given in the SLA's statements…….’

http://www.dailymirror.lk/DM_BLOG/Sections...spx?ARTID=13220

I'm not sure of the exact reason which caused Mihin to collapse like this because there is obviously a demand for low cost travel to the Middle East and the sub continent and there is a void left behind by certain airlines like Gulf Air pulling out of the routes. So this is simply a case of mismanagement at its very best.

Correct me if I’m wrong but as I remember Mihini never flew to any of the popular destination to start with. I doubt a budget airline will ever work in Sri Lankan because of the poor numbers of the target audience. Only a very limited number of Sri Lankans go abroad on a regular basis. Just like what happed with EOS, Oasis and Silverjet. They exclusively cater to a specific segment in the market (business class only) and they only flew to couple of destinations unlike more popular budget carriers like Easy jet, Ryan air etc.

[The Don]

Actually they do. Most of the people who follow Chinthanaya do so coz of his war propaganda. I really hate to bring up the topic on war in this forum as it’s a bit of sensitive subject and I don’t want to offend the patriots in this community as I’ve done so in the past. I came across this article today morning and I like to extract a certain paragraph that shows what a lie this government is leading.

‘……In an analysis of the casualty figures, the AFP has pointed out that in the beginning of this year, the SLA had given the total strength of the LTTE as about 3000, but the total number of fatalities which the SLA has claimed to have inflicted on the LTTE since January 1,2008, is 3105, when one adds up all the figures given in the SLA's statements…….’

http://www.dailymirror.lk/DM_BLOG/Sections...spx?ARTID=13220

Correct me if I’m wrong but as I remember Mihini never flew to any of the popular destination to start with. I doubt a budget airline will ever work in Sri Lankan because of the poor numbers of the target audience. Only a very limited number of Sri Lankans go abroad on a regular basis. Just like what happed with EOS, Oasis and Silverjet. They exclusively cater to a specific segment in the market (business class only) and they only flew to couple of destinations unlike more popular budget carriers like Easy jet, Ryan air etc.

xXX, was merely referring to the fact Sri Lankan elections are still not decided by the "Middle Classes" though when talking in terms of numbers (of people not the amount of money earned or tax paid, I am not sure about their contribution in relation to the whole ) as a proportion of tax payers and contributors to EPF/ETF they represent the majority.

http://www.mihinlanka.com/RouteMap.asp

The above is the Mihin Lanka Route Map. I have no reason to believe they are unprofitable routes (especially the Dubai and Singapore routes).

[kotte mafia]

Dilesh :Btw, mafia, are you in Sri Lanka or overseas? cos from your posts first i thought u were in Australia, then Sri Lanka, now you sound like you're from the middle east hehehe..

Hey man we travel a lot ….

As mad max said Mafia has it's root in every dark corner of the world!

True … may u never kw I’m the guy who is living next door

[Watchman]

True … may u never kw I’m the guy who is living next door

hahahaa.... unless you're a German exchange student or a perky little Chinese dude, i dont think so

Edited April 30, 2008 by Dilesh