A Sri Lankan Airlines plane is seen in Colombo, Sri Lanka, Dec 6, 2021. (PHOTO/AP)

COLOMBO - The Sri Lankan government has called for bids from interested parties for the divestiture of state-owned national carrier SriLankan Airlines, Minister of Ports, Shipping and Aviation Nimal Siripala de Silva said on Wednesday.

Local media reported that SriLankan Airlines's total debt amounts to $1.2 billion, and the government intends to retain 51 percent of the airlines' shares

The minister told the media that the Invitation to Tender (ITT) has already been published at local and foreign media and websites.

The divestiture is to be completed in a two-stage competitive bidding process, according to the Ministry of Ports, Shipping and Aviation.

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Local media reported that SriLankan Airlines's total debt amounts to $1.2 billion, and the government intends to retain 51 percent of the airlines' shares.