In a groundbreaking development, Sherisha Technologies and Supreme Global Consortium have fortified its bid to acquire Sri Lankan Airlines with the inclusion of several high-profile strategic partners.
This move comes as the consortium provides clarifications to the State-Owned Enterprises Restructuring Unit (SOERU) and notifies the Sri Lankan government of this significant advancement.
Inclusion of Terminal Holdings LLC
HRH Sheikh Tahnoon bin Zayed al-Nahyan
Leading the charge in this ambitious endeavor is Terminal Holdings LLC from Abu Dhabi. Owned by the illustrious HRH Sheikh Tahnoon bin Zayed al-Nahyan, one of the wealthiest individuals globally, Terminal Holdings brings a wealth of expertise and financial muscle to the consortium.
Sheikh Tahnoon is a pivotal figure in Abu Dhabi’s business landscape, known for his substantial contributions to expanding the emirate’s business interests worldwide. His portfolio spans multiple sectors including energy, finance, and aviation, with a net worth estimated in the billions of dollars.
Terminal Holdings’ involvement will enhance operational and commercial efficiencies in Sri Lankan Airlines through airline advisory, ground handling operations, and in-flight catering services.
Furthermore, their advisory role is set to introduce best practices in airline management and operations, significantly benefiting Sri Lanka's aviation sector and contributing to the nation's economic growth.
Daring Aircraft Acquisition Initiative
In a bold move, the consortium has secured a partnership with Challenge Aerospace LLC and Emirates Aerospace LLC, committing to supply 20 Airbus aircraft (9 narrow-bodied A320s and 11 wide-bodied A330s) within two years of operation.
This initiative is coupled with a commitment to provide up to USD 300 million worth of aircraft spares, significantly enhancing the consortium's financial capability post-acquisition.
The establishment of a Maintenance, Repair, and Overhaul (MRO) facility in Sri Lanka will cater to the growing regional demand, further strengthening the nation's aviation infrastructure.
This substantial financial backing highlights the consortium’s ability to secure large-scale funding and strategic partnerships, laying a solid foundation for the revitalization of Sri Lankan Airlines.
Support from MBS Global Investments
R.M. Manivannan, Chairman of Supreme Global Holdings and Sheikh Nayef Bin Eid Al Thani
Adding to the consortium's robust financial framework is the support from MBS Global Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani.
MBS Global Investments is renowned for its extensive network and investment expertise, particularly in fintech, green technologies, real estate, logistics and aviation.
The backing of MBS Global Investments, with its ties to the Qatar royal family and access to sovereign wealth, provides an added layer of reliability and financial strength. This support underscores the consortium's ability to leverage Qatar’s immense wealth and commitment to large-scale, impactful investments.
Continued Collaboration with MMAG Aviation Consortium
As previously announced, MMAG Holdings Berhad’s subsidiary, MMAG Aviation Consortium SDN BHD (MAC), continues to play a crucial role in the consortium.
Their contributions include establishing a robust cargo feeder network for Sri Lankan Airlines, assisting in comprehensive restructuring efforts post-acquisition, and leveraging Sri Lanka's strategic geographic position to enhance its capacity as a global air cargo hub.
This partnership is set to significantly advance Sri Lanka's air cargo landscape.
A Strategic Leap Forward
These strategic alliances, formed within a short span during the Expression of Interest (EOI) process, underscore the consortium's commitment and capability to achieve remarkable results.
Despite the current economic challenges facing Sri Lanka and the state of the airline, the consortium has demonstrated its ability to secure strategic partners and large-scale funding.
Conclusion
At the end of the EOI stage, the Sherisha Technologies / Supreme Global Consortium has proven its potential to transform Sri Lankan Airlines into a source of national pride and global recognition.
This remarkable initiative is a testament to the consortium’s vision and capability to deliver on its promises, paving the way for a brighter future for Sri Lanka’s aviation industry.
The strategic moves by the Sherisha Technologies and Supreme Global Consortium marks a significant milestone in the acquisition process of Sri Lankan Airlines, promising a transformative impact on the nation's aviation sector.
