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 Privatization of Sudan Airways
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July 21, 2004
Sudan said on Wednesday it was in negotiations to partially privatize its loss-making national carrier, Sudan Airways.
Sudanese Finance Minister al-Zubeir Ahmed al-Hassan told reporters the government decided to restructure Sudan Airways and was currently in talks with potential partners.
He said the government would retain 30 percent of the new company with 21 percent going to the Sudanese private sector.
"So, the company will be 51 percent to national shareholders and 49 percent to other [shareholders]. Negotiations have already begun with potential partners," he said.
Hassan described Sudan Airways as a collective of losses. "The government was faced with two options either liquidate the company or restructure it."
Sudan Airways was established in 1947 by Sudan Railways to reach parts of the country not covered by the rail network.
The airline has had three fatal crashes. The last crash was in July 2003 in which 115 people were killed and a two-year-old boy was the sole survivor.
(Reuters)
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