Who owns our company?

Our company is ultimately owned by the people of Sri Lanka. It belongs equally to every single citizen of our country. The government of Sri Lanka which is elected by the people of Sri Lanka holds legal ownership of our company on behalf of its people.

The government needs to ensure that the company owned by the people actually functions for the benefit of the people. Also, the functions of the company are all public duties that the government is bound to provide for the people. Therefore the government has brought the functions of the company under the purview of the portfolio of “civil aviation”. Therefore the ministry that handles the portfolio of “civil aviation” is the government instrument which ensures that the company performs its functions to serve the interests of the people.

The board of directors of our company is appointed by the cabinet minister holding the portfolio of “Civil Aviation”. The board is appointed for a term of two years. Normally in private companies one or more of the directors have ownership of the company. Shareholders are also empowered to appoint directors to the board so that the share holders’ interests are looked after when the board makes business decisions.

Although our company has been registered as a private company, it is owned by the government on behalf of the people. Directors of our company do not own it in the sense the directors of other private companies do. However, they are “trusties” of the company on whom the Minister of Civil Aviation has entrusted the custody of the company on behalf of the people who are the real owners. Their role is to make business decisions and run the company profitably as in the case of a private company while ensuring that the company performs its public duties. Therefore when our company makes profits, it does so in the interest of the general public and not for the benefit of private individuals or groups.