Home | News    Wednesday 9 February 2005

Airbus cancels Sudan Airways’ 45 million dollar debt: minister

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KHARTOUM, Feb 9, 2005 (AFP) — European aviation consortium Airbus Industrie has cancelled the 45-million dollar debt owed to it by Sudan Airways, Sudanese Aviation Minister Ali Tamim Fartak said Wednesday.

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In return, the European firm will win the majority of the ailing carrier’s contracts for new aircraft of various types to boost its fleet, Fartak told the official SUNA news agency.

Sudan announced last year that it would privatise the national carrier and invite foreign investors to buy shares in a new company.

It said the decision had been taken because of losses and debts of millions of dollars.

Officials said 30 percent of the shares of the new firm would be held by the government, 21 percent by Sudanese businessmen and 49 percent by foreign investors yet to come forward.

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