COLOMBO: Airfares from Sri Lanka are likely to be up by 30 percent from March 11, Friday, according to the latest exchange rate announced by the airlines.
The airlines have announced an exchange rate of Rs 259.9999 for a US dollar which is a 30 percent increase from 12 am on March 11, Friday , according to industry experts.
Following the devaluation of Rupee against the US Dollar, Colombo Times exclusively reported on Thursday March 10 that the airfare would go up by 15 percent,
ON THURSDAY COLOMBO TIMES REPORTED: “Confirming the increase in the airfares ,Travel Agents Association of Sri Lanka,TAASL, President Sabry Bahaudeen told Colombo Times that this has been re-affirmed by the Board of Airlines Representatives of Sri Lanka based on the circular issued by the Central Bank of Sri Lankan on the devaluation of the Sri Lankan rupee against the US Dollar
Bahaudeen said this will be the decision of the IATA according to the revised Rate of Exchange following the devaluation..
Late on Monday, the Central Bank of Sri Lanka, with immediate effect, set an exchange rate limit of 230 rupees per dollar compared to a limit of 200-203 that had prevailed since October.
Traveller Global Managing Director Rizmi Reyal, who is also the head of the sub-committee on Arilines of the TAASL said that the hike in the airfares is inevitable due to the devaluation. However, he added those travelers could still enjoy the existing airfares provided they purchase their tickets before the dawn of Friday, March 11.”
