Khartoum moves to privatise ailing Sudan Airways

KHARTOUM, Sudan, Aug 18, 2004 (PANA) — Authorities here have invited foreign investors to buy shares in a new firm planned to replace the troubled Sudan Airways as part of a full privatisation policy.

Finance and National Economy Minister Elzubier Ahmed Elhassan
announced that restructuring of Sudan Airways was a preparatory step towards strategic partnership of the airline, which began operations in 1947.

Plagued by chronic mismanagement, financial losses and
overstaffing, the minister said all 2,000 staff at Sudan Airways, which owns only two aircraft, would be laid off.

He said government would hold 30 percent shares in the new firm, while 21 percent goes to Sudanese businessmen and 49 percent to foreign investors.

Meanwhile, the finance ministry has set up a high level committee to evaluate the staff’s financial entitlements in accordance with the labour laws of the country.

The 55-year old airline constitutes about 50 percent of the
international services at the Khartoum International Airport and 85 percent of domestic air services.