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Message: <blockquote data-quote="lkdood" data-source="post: 7591289" data-attributes="member: 92282">Sri Lanka is on the verge of buying back the 43.6 percent stake in  its national carrier held by Dubai's Emirates Airlines, SriLankan  Airlines' chairman said Friday."The deal is close to being  finalised," Nishanta Wickremesinghe told reporters. "It is now between  the government and Emirates."Emirates, the Middle East's largest  carrier, bought its stake in SriLankan for 70 million dollars in 1998,  in line with a privatisation of the airline, which was then known as Air  Lanka.Although the Sri Lanka government retained a 51 percent  stake, Emirates was given management control of the airline over a  10-year period.When that period ended in 2008, Emirates valued  its holding at around 150 million dollars.Wickremesinghe did not  give details of the buy-back deal, but airline sources quoted a figure  of between 55-65 million dollars."Papers are being exchanged and a  deal should be ready soon," an airline source who declined to be named  said. "The government wants to finance the purchase through at least two  of its profit-making commercial enterprises."SriLankan posted a  loss of 10 billion rupees (87 million dollars) in the year ended March,  hurt by falling tourist arrivals and the global recession.<a href="http://www.google.com/hostednews/afp/article/ALeqM5iv_IU6-vhCGrAT8yUbQU4VQcjEIg" target="_blank"><img src="http://www.google.com/hostednews/img/afp_logo.gif" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></blockquote>

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