Air Seychelles posts second year of profits

Air Seychelles, the national carrier of the Republic of Seychelles, has announced a net profit of US$3 million for 2013 on the back of a 107 per cent rise in revenue to $88.7 million (2012: $42.8 million), exceeding by 171 per cent its profit of $1.1 million reported in 2012.


Air Seychelles posts second year of profits


Air Seychelles, the national carrier of the Republic of Seychelles, has announced a net profit of US$3 million for 2013 on the back of a 107 per cent rise in revenue to $88.7 million (2012: $42.8 million), exceeding by 171 per cent its profit of $1.1 million reported in 2012. Cargo volumes flown in 2013 rose by 159 per cent to 5,529 tonnes compared to 2012’s 2,128 tonnes and the carrier saw record cargo volumes in 2013 thanks strong demand to and from France, Italy, Hong Kong and South Africa. On the passenger side, Air Seychelles’ international network saw passenger numbers grow 100 per cent to 195,857 and domestic passengers rise nine per cent to 156,617 passengers.

Joël 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. CEO 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.”