Egypt Independent

Sudan national carrier to sell 70% stake



The Kuwaiti AREF investment group and the Sudanese Al-Fayhaa Company, which together own 70 percent of Sudanese national carrier Sudan Airways, have recently announced plans to put their shares in the airline up for sale.

AREF owns 49 percent of the company and Al-Fayhaa 21 percent, with the remaining 30 percent held by the Sudanese government.

The two companies have already begun to approach other airlines, including EgyptAir and Qatar Airways, about purchasing the shares.

Sources at AREF, speaking on condition of anonymity, said the group decided to sell the airline as part of a program aimed at diversifying its investment portfolio in light of the ongoing global financial crisis.

One Qatar Airways official, however, denied that the company had been approached about the sale.

Translated from the Arabic Edition.