Air Seychelles posts 2nd consecutive year of profitability

MANILA, Philippines - Air Seychelles, the national carrier of the Republic of Seychelles, announced yesterday a net profit of $3 million for 2013, exceeding by 171 per cent its profit of $1.1 million reported in 2012.

 Revenue increased by 107 per cent to $88.7 million.

 The airline’s passenger numbers on its international network increased 100 percent to 195,857 (2012: 97,576), while traffic on domestic services in 2013 increased nine per cent to 156,617 passengers.

Cargo volumes flown in 2013 rose by 159 percent to 5,529 tons.

Joel Morgan, Seychelles Minister for Home Affairs and Transport and Air Seychelles board chairman, said the 2013 results were a testament to the on-going success of the airline’s turnaround strategy and business plan.

“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.Today Air Seychelles is a great symbol of our nation wherever our brightly-coloured aircraft are flown.”

Chief executive officer of Air Seychelles, Manoj Papa, said: “These results are another step forward in our journey as a commercially successful business and come against a backdrop of impressive development in both our domestic and international operations.

“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.