Rs. 8.5 Billion Losses At Mihin Lanka

800px-Mihin_Lanka_Airbus_A320_KvW

Mihin Lanka plane via Wikipedia


As mentioned, by everyone, the state funded budget airline Mihin is a bad idea. It’s been losing money since it began, the full extent of the losses being masked by the fact that it gets subsidies and gives bad debts to other government institutions. This lame donkey has also been yoked to the national carrier SriLankan, bringing both down. The latest report is that Mihin has lost Rs. 8.5 billion (about $65 million) since it began.

At the same time, of course, compensation for the Mihin board of cronies has increased. Mihin and SriLankan CEO Kapila Chandrasena earns Rs. 1 million a month, Rs. 500,000 for each.

This airline thing really is madness. Mahinda likes plays and he wants to play with them, but how much taxpayer money do we have to watch disappear into thin air?

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5 Comments »

2012-11-28 10:17:51

RT @indica: new blog post: Rs. 8.5 Billion Losses At Mihin Lanka. The flagship of government waste http://t.co/BrWC9m90

 
Kamal
2012-11-30 11:19:44

I thought Mihin went bankrupt for the 2nd time and they were winding down their operations. Perhaps my sources were mistaken.

 
Realist
2012-11-30 12:51:55

Maybe the soothsayers have said 4th time lucky…

 
IEatPeopleForLunch
2012-12-06 00:37:26

Mihin Lanka aeroplanes are not what they appear to be. They are in fact spaceships of the Rajapakse’s and the Rajapakses are actually aliens. You think 8.5 billion is enough to maintain superior space ships? That’s why there’s a loss here. Anyone in denial should think about why Sri Lanka launched a satellite with China’s help… that’s right, that isn’t just any satellite, it is a satellite used to coordinate intersteallr space travel using nothing less than what we think are reglar aeroplanes with Mihin Lanka written on them! Also, do you think it was mere coincidence Sir Arthur C. Clarke chose to live in Sri Lanka? Think people!

shammi
2012-12-06 10:01:21

No. The most likely explanation is that it’s Ravana’s “dandumonara”, all new and improved, disguised as a satellite.

 
 
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