12 I Upfront
Sri
Lanka cancels A350
Ascott plans three more Indian properties
leases THE SRI LANKAN GOVERNMENT is set to pay independent aircraft leasing company Aer Cap Holdings NV US$170 million to cancel a lease for four A350s. The government also has an order for four other A350 aircraft with Airbus (delivery is scheduled for 2020), but the future of these orders is unclear. Sri Lankan Airlines has been struggling financially and currently has a debt of approximately US$3.25 billion. The government also announced it will be discontinuing its budget carrier Mihin Lanka, effective October 30, which has been struggling as well. Sri Lankan Airlines will be taking over the budget carrier’s 11 routes as part of the restructure, and will operate them as a full-service rather than budget offering.
srilankan.com
SINGAPORE-BASED SERVICED residence group The Ascott Limited will manage three new properties in India, set to open between 2019 and 2021, adding to the group’s rapidly growing India pipeline of five new properties slated to open between Q4 this year and 2019.
The upcoming Somerset Bellandur Bangalore will join the
group’s other planned property in the city, Somerset Galleria Bangalore, which is set to open next year.
Meanwhile, the Citadines Financial District Hyderabad and the Citadines Sri City will be the group’s first residences in the two cities.
ascott.com
This month’s prize comes from Taiwanese airline Eva Air.
a free flight For a chance to win, visit
WIN
businesstraveller.com/asia-pacific/competitions
In celebration of the expansion of its service frequencies from Taipei to North America (Seattle and New York), Eva Air is offering one lucky reader two round-trip Elite Class tickets from Hong Kong to a destination in the US or Canada of their choice. Bookings must be made before June 15, 2017 and tickets will be valid for six months after booking.
SEPTEMBER'S ONLINE COMPETITION WINNERS: Sue Leach (UK) won a two-night stay at Andara Resort & Villas, Pete Hewitt (UK) won a two-night weekend stay at the Fullerton Hotel Singapore, and Giuseppe Pedata (Italy) won a two-night stay at the Katamama boutique hotel in Bali.
NOVEMBER 2016
businesstraveller.com
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