Sudan National Carrier Receives Airbus Program for Rehabilitation

Sudan National Carrier Receives Airbus Program for Rehabilitation
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Sudan National Carrier Receives Airbus Program for Rehabilitation

Sudan National Carrier Receives Airbus Program for Rehabilitation

The Sudanese government announced on Saturday receiving a rehabilitation and operations plan from the European aeronautics company, Airbus, to serve its national carrier Sudan Airways for the upcoming 10 years.

The initiative was inked at a meeting held in Dubai and with each of the Sudanese Transport Minister representatives of the French company.

Transport Minister Makkawi Mohamed Al-Awad expressed in a press statement his hope that Sudan Airways would recapture its global status after having suffered long-term stalemate in world markets.

He considered the initiative with Airbus a step towards development and boosting competition for international airlines.The plan includes open options either through partnership, or sales, he added.

According to the minister, the restructuring of the Sudanese airliner is a part of a national plan to expand a fleet of civil aircraft over the next three years, noting that the Airbus plan is promising for the revival of Sudan Airways.

In preparation for the makeover, Sudan Airways carried out last month a huge employee survey and shuffle which saw the hiring of new personnel.

“Sudan Airways could have been bankrupt. It has not performed well in recent years and has difficulties in to pay back its debts to clients, including the Sudanese civil aviation authorities,” Awad said in an earlier interview.

The Airbus plan was prepared when Sales Director Airbus Middle-East & North Africa Cyrille Picard visited Khartoum two months ago with a large team of experts, Sudan Airways sources said.

Arrangements are under way for the purchase of a new air fleet comprising seven aircraft units.

In November 2017, Khartoum signed a contract with a Chinese company on buying two planes at $60 million.

It is worth noting that Sudan Airways’ partnership with the Islamic Development Bank helps greatly in financing a part of the new aircraft deals.



EUROPE GAS-Prices Continue to Decline

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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EUROPE GAS-Prices Continue to Decline

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Dutch and British wholesale gas prices continued to declined on Tuesday morning on milder weather forecasts for next week, high wind speeds and stable supply.

The benchmark front-month contract at the Dutch TTF hub was down 0.61 euros at 46.65 euros per megawatt hour (MWh) at 0947 GMT, according to LSEG data.

The contract for March was down 0.52 euro at 46.63 euros/MWh.

In Britain, the front-month contract fell by 2.04 pence to 116.76 pence per therm.

In north-west Europe, although another cold snap is forecast from Friday over the weekend, the latest forecasts are showing milder temperatures than yesterday from Jan. 15, according to LSEG data, Reuters reported.

Wind speeds are expected to remain quite strong today, limiting gas demand.

However, in north-west Europe, gas-for-power demand is expected 36 million cubic metres (mcm) per day higher at 78 mcm/day on the day-ahead.

"Wind speeds are expected still high today, before dropping sharply tomorrow with the cold spell arriving," said LSEG gas analyst Saku Jussila.

In Britain, Peak wind generation is forecast at around 15.1 gigawatts (GW) today and 14.7 GW tomorrow, Elexon data showed.

Analysts at Engie EnergyScan said EU net storage withdrawals have slowed due to a more comfortable spot balance but the storage gap compared to last year remains high. On 5 January, EU gas stocks were 69.94% full on average, compared to 84.96% last year.

Looking further ahead, analysts at Jefferies expect a tight year for global gas markets due to project delays and higher-than-expected demand.

"European and Asian LNG spot gas prices in 2025 could surpass those of 2024, driven by Europe's increased gas injection needs and the loss of Russian exports outpacing the expected growth in global LNG supply," they said.

"Post 2025, the market is expected to loosen with an additional 175 million tonnes of new supply coming online between 2026 and 2030, primarily from the US and Qatar," they added.

In the European carbon market, the benchmark contract was down 0.91 euro at 73.45 euros a metric ton.