As Sri Lanka’s economy recovers and tourism resumes, SriLankan Airlines is benefiting from a period of operational profitability, marking three consecutive years of performance, says SriLankan Airlines Chief Executive Officer (CEO) Richard Nuttall. Nuttall stressed that the airline is now focused on expanding its fleet and services to meet rising demand.
In a keynote address at the 2025 Aviation Festival, Nuttall said SriLankan Airlines is working on a business plan that aims to double the size of the airline in the next five years.
Nuttall explained that in the short term, the airline plans to lease aircraft as they become available, noting that competition in the leasing market has driven up costs. He acknowledged the importance of planning for the long term, especially given the need to replace the airline’s aging fleet, particularly the A330s.
Nuttall said that the airline’s primary focus is on increasing the frequency of flights to existing destinations, pointing out that competition in the region has intensified with Southeast Asian airlines doubling their capacity to Sri Lanka over the past year.
Nuttall stressed the importance of tourism to SriLankan Airlines and the country’s economy, noting that tourism is one of the largest foreign exchange earners and a significant employer, and that SriLankan Airlines, in turn, plays a key role in Sri Lanka’s tourism industry.
He added that as the primary airline for nearly 40% of tourists visiting Sri Lanka, the airline plays a crucial role in the country’s tourism promotion efforts.
“We are the largest single promoter of tourism to Sri Lanka,” Nuttall said. The airline’s marketing initiatives, which focus on promoting Sri Lanka as a destination and not just an airline, are a key part of this effort. Nuttall also highlighted the airline’s digital presence and collaborations with local tour operators to increase Sri Lanka’s visibility in the global market.
“We are the only organization with a name that people recognize, and we have a much bigger brand than the airline for historical reasons. We have people in all the countries we fly to. If you watch SriLankan Airlines’ advertisements, it speaks a lot more about the country than it does about the airline.”
“I mean, if you look at our flight safety video, I think it’s been more popular than any other airline safety video, but it’s all about the scenery of the island – it’s spectacular. So, you know, what we’re really doing is promoting Sri Lanka,” he added.
Nuttall emphasized SriLankan Airlines’ geographical advantage, citing the airline’s strategic location in the Indian Ocean. The airline serves as a natural hub for flights connecting India, East Africa and Southeast Asia. This positioning allows SriLankan Airlines to capitalize on growing regional demand, especially as the Indian market is experiencing significant growth.
“I’ve worked for eight airlines, which is incredibly frustrating, because the opportunity for SriLankan Airlines is huge. We’re in a unique position, and our location allows us to nurture traffic from India and East Africa to Asia and beyond,” Nuttall explained.
When asked about the possibility of a strategic partnership, Nuttall confirmed that tourism is crucial to Sri Lanka’s national interests and therefore Sri Lankan ownership and management should remain under Sri Lankan ownership. However, he admitted that the airline is exploring various options to secure future investments, which could include public-private partnerships or even stock market listings.
As the airline’s recovery is in full swing, Nuttall is focused on SriLankan’s growth, aiming to expand its network, increase flight frequencies and invest in aircraft modernization. Despite the challenges, Nuttall believes that with the right investment, SriLankan can significantly improve its position in the coming years.
