The Sri Lankan government said it was too early to say if it would be interested in buying Emirates airline's stake in flagship carrier SriLankan airlines.
Emirates said it was looking to sell all or part of a 43.6 percent stake in SriLankan Airlines valued at around US$150 million after the Sri Lankan government sought greater control over the airline's day-to-day business.
Sarath Amunugama, minister for enterprise development and investment promotion, said the sale of the stake is a very serious matter and has to be examined in detail.
Emirates president Tim Clark said the airline had declined to renew a 10-year management contract of SriLankan, which expires at the end of March, saying the government's push for greater control was not acceptable to us.
Emirates said management control of the airline would pass to the Sri Lankan government, which holds a 51 percent stake, on April 1.
Emirates had in September expected to renew its management contract for at least another five years and wanted to double the carrier's fleet to as many as 30 aircraft.
Emirates paid $70 million for the stake in SriLankan, its only investment in another carrier.
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