Business
Airtel Lanka reaffirms commitment to customers during challenging times
In the wake of ongoing economic hardship faced by Sri Lankan consumers, the island’s most preferred telco among youth, Airtel Lanka, issued a statement reiterating its commitment to stand by its customers in difficult times, and hold to its promise of delivering maximum value for nation’s fast-growing base of mobile users.
“From the time we first commenced operations in Sri Lanka more than a decade ago, Airtel Lanka has been driven by a single mission: to deliver a world class network experience, while ensuring we deliver maximum value and superior customer service. Especially in the past three years, we have steadily delivered on this promise, as evidenced by the roll-out of a complete suite industry-first innovations of pre and post-paid packages that have helped shift the entire market towards offering users the best possible deal.
“We stand firm in our commitment to our customers, and in supporting them through this period of challenges in the Sri Lankan economy. Our aim is to continue easing their burden and ensure that affordability never becomes an obstacle for our customers who rely on our world-class network to stay connected with their studies, work, friends, and family” Airtel Lanka CEO, Ashish Chandra said.
Over the past year, Airtel has enjoyed the strongest growth in the Sri Lankan telco sector, has more users flocked to their pioneering pre and post-paid offers, as evidenced by over 1.1 million users that switched over to Airtel Freedom packs
Among the most recent Airtel offerings to take the market by storm has been the Airtel 888 Unlimited Freedom Plus pack which was the first in Sri Lanka to offer unlimited voice calls to any Airtel number, unlimited access to Facebook, Messenger, WhatsApp, and YouTube, and a generous data allocation, all valid for 30 days. This package has struck a chord with customers seeking a comprehensive and affordable connectivity solution.
“Within just a few months of launch, a staggering number of customers have switched over to this pack, with more users coming on board every day. Interestingly, over 50% of activations were from youth, reinforcing Airtel’s position as the people’s brand, especially among Sri Lanka’s youth. We are also careful to continuously assess the needs of our customers and upgrade our offerings, based on their app usage preferences. That is how we ensure that products like Airtel 888 pack are always value laden, and designed around the needs of our users; hence, we have recently enhanced the 888 pack by adding three more apps to its unlimited social media portfolio. Thus making it the strongest product offering currently in the market,” Chandra explained.
Notably, Airtel was the first telco in Sri Lanka to offer unlimited calls to any network in the post-paid market, following its earlier introduction of the same feature for prepaid users through the Freedom Unlimited packs. As part of its mission to revolutionize the Sri Lankan mobile industry by providing maximum value to customers, Airtel introduced the Unlimited 1098 postpaid plan, priced at Rs. 1,098 offering unlimited voice calls to any network, along with 40GB of 4G anytime data, full HD quality video streaming, social media and SMS facilities to meet monthly requirements.
Since implementing significant upgrades to its network, powered by state-of-the-art 5G-ready infrastructure, Airtel has consistently redefined the Sri Lankan telco market. The company has launched a flurry of innovative products, engaged in socially driven partnerships aimed at empowering Sri Lanka’s youth, and advocated for progressive industry policies to ensure a more vibrant future for the Sri Lankan telco sector.
Airtel Lanka’s efforts to empower Sri Lankan telco customers have also made it a powerful telco trendsetter, with all industry players having since emulated Airtel on several ‘industry-firsts’. These include Airtel’s extremely popular post-paid Data Rollover option, as well as the introduction of Unlimited Calls bundled with generous data allocations of up to 30GB of free data.
Airtel Lanka’s ‘Data Rollover’ feature enables post-paid users to carry-over of unused data to the next month, accumulating up to 200GB. This feature allows users to enjoy unrestricted HD quality social media, work from home, and downloads while saving data and expenses.
Business
Affairs of Sri Lankan Airlines could be turned around using local expertise – former CAA chair
The financial affairs of national carrier Sri Lankan Airlines could be turned around along with the fortunes of Mattala Airport, using local management expertise without divesting these assets, former chairman CAA and veteran travel and tourism expert Upul Dharmadasa said.
“Sri Lanka has experts and knowledgeable persons to develop Sri Lankan Airlines into a viable entity. But when it comes to the debt restructuring process the government should absorb the losses to salvage our national carrier, former chairman Civil Aviation Authority Upul Dharmadasa told The Island Financial Review.
Speaking on Mattala Airport Dharmadasa said that during the Covid 19 pandemic he spearhead the airlines’ operations to bring more than 138,000 Sri Lankans back into the country. “At that time Mattala Airport functioned as a second international airport and it assisted the government in managing Covid patients in a more systematic way, he said.
Dharmadasa added: ‘Further, Mattala Airport’s 12 anniversary falls today. It falls on the government to develop it as the second international airport. It could attract large aircraft.
“We need to deploy proper and qualified persons to streamline the entire process.
“I have been in the airline industry for more than four decades. The number of airline arrivals in the country and departures from it have come down considerably after Covid 19 pandemic.
“In this scenario, Sri Lankan Airlines should focus on launching new flights to US and Canada. Together they account for more than 1.4 million Sri Lankan diaspora members who fly to Sri Lanka.
“Sri Lankan Airlines should resume Rome flights as well, which is a lucrative market. Apart from that Sri Lankan Airlines should focus on new destinations, wherein they could sell tickets and attract huge revenue to the airline.
“The airline should have 25 aircraft to offer uninterrupted services to air travelers but at present it has only 23 aircraft.”
By Hiran H Senewiratne
LOLC Al-Falaah, Sri Lanka’s leading provider of alternate financial solutions, proudly announces the launch of ‘Al-Falaah Wakalah Future-Cash’, a pioneering Shariah-compliant alternative for Factoring, Invoice & Cheques discounting facility, designed to transform business financing. This ground-breaking financial solution empowers businesses to elevate and realize future cash flows in real-time, while maintaining adherence to ethical financial principles. Setting a new benchmark in Sri Lanka’s Islamic financial services sector, this initiative strengthens LOLC Al-Falaah’s commitment to innovation and excellence in the alternate finance arena.
Unlike conventional Factoring, which relies on interest-based returns against receivables, LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product is structured under the ‘Wakalah-Bil-Istithmar’ concept, ensuring full compliance with Islamic economic jurisprudence. Through this model, LOLC Al-Falaah provides capital infusion into business operations in exchange for a pre-determined Anticipated Profit Return (APR), eliminating interest-based transactions. Businesses are appointed as agents to deploy these funds within their operations, with surplus earnings allocated as a performance incentive. This structure enhances financial discipline, promotes transparency, and encourages ethical business practices.
The introduction of this pioneering facility is particularly timely as Sri Lanka transitions towards economic recovery and long-term stability. Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, emphasized the significance of this initiative: “As Sri Lanka embarks on a path of economic resurgence, businesses require the right financial instruments to capitalize on emerging opportunities. As a trailblazer in the alternate financial services sector, LOLC Al-Falaah has identified a critical gap in the bills-discounting and factoring industry. The launch of LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product presents a strategic solution that enhances liquidity and working capital efficiencies while adhering to Islamic financial principles.
City Cycle Industries Manufacturing (Pvt) Ltd, a leading provider of sustainable mobility solutions and renowned for its household brand Lumala, has been honored with the Best National Industry Brand award under the Large-Scale Other Industry Sector at the recent National Industry Brand Excellence Awards 2024.
Organized by the Sri Lanka Technical Development Board under the Ministry of Industry and Entrepreneurship Development, the award ceremony was held on 21 February at Eagle Lakeside and saw the participation of distinguished leaders from diverse industry sectors. The vent was graced by Prime Minister Harini Amarasuriya as the Chief Guest.
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