India-Russia Joint Venture Takes Over Sri Lanka's Loss-Making Mattala International Airport

Sri Lanka's Minister of Aviation, Nimal Siripala de Silva, announced the transfer of the loss-making Mattala International Airport in Hambantota to a joint India-Russia venture within the next few weeks. The USD 209 million facility, known as the 'world’s emptiest airport,' will be managed by Shaurya Aeronautics of India and Airports of Regions Management Company of Russia for 30 years.

Sri Lanka's loss-making Mattala International Airport in Hambantota will be handed over to a joint India-Russia venture within the next few weeks, according to Minister of Aviation Nimal Siripala de Silva.

The India-Russia partnership was awarded the airport's management in April, taking over the USD 209 million facility, once branded the 'world's emptiest airport' due to a lack of flights.

The Sri Lankan Cabinet had earlier approved calling for Expressions of Interest, resulting in five proposals, with the 30-year management contract being awarded to India's Shaurya Aeronautics and Russia's Airports of Regions Management Company. Built during Mahinda Rajapaksa's tenure with high-interest Chinese loans, the airport has struggled financially since its inception. The government has been seeking commercial partners for the airport since 2016.

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