Emirates Acquires 40% Of Air Lanka
Emirates, the Dubai-owned airline, confirmed on 30 March that it had paid $70mn for a40% stake in Air Lanka. Emirates will pay $45mn down for 26% of Air Lanka and theremaining 14% will be acquired over the next two years. The Sri Lankan Government retain51% of the share capital and will supply four members of the board of directors, while AirLanka's employees will hold the remaining 9% of the stock. The deal involves Emirates...