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Air Seychelles posts $3m net profit

Abu Dhabi, April 10, 2014

Air Seychelles, the national carrier of Seychelles, has posted a net profit of $3 million for last year, up 171 per cent compared to its $1.1 million in 2012.
 
The airline’s revenue increased by 107 per cent to $88.7 million, against $42.8 million the previous year, said  a statement.
 
The passenger numbers on its international network increased a 100 per cent and traffic on domestic services rose nine per cent, while cargo volumes increased 159 per cent to reach 5,529 tonnes.
 
Joël Morgan, Seychelles Minister for Home Affairs and Transport and Air Seychelles Board Chairman, said, “To record a second successive year of profitability after the immense challenges of the past is an achievement of which we are all very proud.  Our 2013 figures are a clear indication that we now have the right business model.
 
“In just two years, we have rebuilt our national carrier, strengthened our partnership with Etihad Airways, and beyond delivering good results for the airline, we have helped grow Seychelles tourism in the process – one of our core objectives.”
 
Manoj Papa, chief executive officer, said: “Our business is now in good shape for the future, which includes growing our operations, launching new routes, taking delivery of new aircraft, expanding airline partnerships, hiring more Seychellois, and bringing more travellers to the Seychelles.
 
“We have established a solid basis for continued growth which reinforces the future of Air Seychelles and its vital contribution to the Seychelles economy.”
 
The airline’s Abu Dhabi services increased from four to seven return flights per week, with the route being the busiest international route with a 178 per cent year-on-year increase.
 
“We have come a long way in two years and 2013 has been exceptional.  To achieve a second year of profitability and simultaneously be ranked among the very best airlines in the world is an amazing achievement of which the company and its staff should be very proud,” said Morgan.
 
“I am pleased at the significant progress made with our people development programme, where the first group of Air Seychelles Graduate Development Management trainees are scheduled to return to Seychelles later this year after 18 months abroad receiving world-class training,” he added.
 
At the close of last year, the airline employed 629 staff, an increase of 17 per cent over the 536 staff the airline employed in 2012.  Of this number, 622 were Seychellois nationals, 98.8 per cent of the total. - TradeArabia News Service



Tags: profit | 2013 | Air Seychelles |

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