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Rebel attack on Sri Lankan airport cost more than USD1bn.

AIRLINE INDUSTRY INFORMATION-(C)1997-2001 M2 COMMUNICATIONS LTD

The Sri Lankan President Chandrika Kumaratunga indicated on 15 August that a rebel Tamil Tiger attack on the country's international airport had cost more than USD1bn.

The attack on 24 July destroyed about 12 aircraft, sent tourists diving for cover and precipitated an economic crisis.

Kumaratunga, who is also minister of finance, stated, "The damage to aircraft and tourism alone is around LKR95bn (USD1.05bn) or about seven years spending on education," Reuters reported. Sri Lanka expects the attack to reduce tourist arrivals by about 50%, throwing the tourism industry into recession.

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Publication:Airline Industry Information
Date:Aug 16, 2001
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