The Mattala Rajapaksa International Airport (MRIA) has recorded an operating cost of Rs. 3,600.8 million, nearly 14 times higher than its operating income of Rs. 242 million, the 2024 audit of Airport and Aviation Services (Sri Lanka) (Private) Limited (AASL) revealed.
This resulted in an operating loss of Rs. 3,358.6 million, although a net profit of Rs. 879.7 million was reported due to foreign exchange gains. Cumulative net losses from 2018 to 2024, however, amounted to Rs. 39,369 million.
Despite an expected annual passenger capacity of one million, only 321,577 passengers used the airport over six years, with a total of 3,596 flight movements.
The audit noted that Rs. 36,564 million (USD 247.7 million) spent on construction—including price escalations and variations—had not been effectively utilized.
In addition, Rs. 2,053 million was paid as annual loan interest for the USD 190 million foreign debt obtained for construction.
The audit recommended that AASL take steps to operate and upgrade MRIA efficiently and profitably.
In response, the management stated that with a proposed cancellation of the Cabinet decision on handing over operations, they plan to call for fresh investments through expressions of interest or RFPs for aviation-related business across nine specified areas.