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The Ceremony
At the headquarter's of Sudan Airways in Khartoum the ceremony attended
by Ministers, members of the parliament, Ambassador of Kuwait, Directors
of airlines and representative of governmental departments , started at
noon and addressed by the chairman of Sudan Airways, state minister of
cabinet Mr. Kamal Abd Alatif, Dr. Al Ezzumai Chairman of Aref Holding
group, State minister of Finance, and Minister of Transport.
The Signature:
The agreement signed in the witness of Minister of Transport by the
Chairman of Sudan Airways on behalf of minister of finance and the
Chairman of Aref Investment group.
Allocation of Shares:
According to the agreement the government keeps 30% and 49% released for
Aref Group as strategic partner on the other hand Al Fayha holding group
acquires 21% of the shares as a local private partner.
Other Terms Of The Agreement:
▀ Sudan Airways will keep its
name as national flag.
▀ carrier, its logo and all
previous commitment.
▀ The new partnership will keep the
present employees without any service termination or
withdrawal.
▀ Mr. Nasreldin the current
Managing Director will keep his position as the Chief executive
officer.
▀ The new board of directors
will consist of 7 persons , 3 from Sudan , 3 from Aref group ,
and 1 from Fayhaa group.
▀ The Board is to be chaired
by a Sudanese .
▀ The Managing director will
not be a member of the board.
▀ The Allowed capital of the
new partnership is one milliard US dollar , while the paid capital
250 million US dollar.
Future Prospects:
A new aircraft will join Sudan Airways fleet during the first week of
July, 2007 .
A business Plan is prepared by Aref group for the coming 5 years, aiming
at fleet modernization , expansion of domestic and international routes
and recruitment of more employees.
The employees expressed their wishes and requests to continue with the
same management.
During 5 years the partnership will be transformed into public holding
company.
The plan of Aref Group will involve development of tourism , hotels and
other strategic business units.
Along term strategic plan is also prepared for transfer of operations to
Khartoum new international airport.
The Press Conference:
After a short visit to the Vice President Mr. Ali Osman in the
republican palace and approval of the agreement, the partners held a
press conference in the premises of the headquarters of Sudan Airways,
attended by local and international media journalists and satellite
channels .
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