SriLankan Airlines has formulated a five-year strategic business plan for 2019-24 to transform itself into a financially successful organisation, while turning Sri Lanka into a strategic hub for air travel and air cargo in the Asia-Africa-Middle East region.
The Strategic Business Plan recognises the contribution of the national carrier to a vast number of industries in Sri Lanka, including all export, import and travel related industries; and envisages a corresponding contribution to the nation’s economy as the airline grows.
The plan is to be presented for approval to the company’s shareholder, the Government of Sri Lanka. It was formulated by the national carrier’s new management team under Group Chief Executive Officer Vipula Gunatilleka, who was appointed in mid-2018.
A key aspect of the Strategic Business Plan includes developing a route network to match customer demand and market opportunities, including new destinations in Europe, Africa, the Middle East, South Asia, the Far East and Australia, as opposed to the limited point-to-point strategy.
It also focuses on selecting a fleet that is cost effective and best matches the requirements of the route network; enhancing the customer experience by improving customer-centricity throughout the airline; adopting best practices to improve productivity; growing online sales to reach a wider market in a more cost effective manner; greater employee engagement; and implementing a competitive cost structure through a greater cost consciousness throughout the company.
The Airline would continue to be a catalyst for the development of Sri Lanka’s tourism industry by aligning its network with the country’s tourism strategy and carrying out joint marketing efforts with Sri Lanka Tourism.
The plan also includes a new vision, mission and company values for the national carrier.
The Airline would also expand its use of standard operating procedures, global best practices and re-engineering of processes.
Service Standards are to be enhanced through a comprehensive Customer Relationship Management process.
The Strategic Business Plan also focuses on digital transformation and technology adoption, and increasing ancillary revenue from the Group’s sub business units including SriLankan Cargo.