Profits soar for Air Seychelles in 2015

Profits soar for Air Seychelles in 2015

Air Seychelles on profit mode
Air Seychelles on profit mode

Air Seychelles in a recent announcement reported its fourth year of profitability with net profits of US$ 2.1 million in 2015, on revenues of US$ 105.4 m.

The financial statements were audited by KPMG and reflect growth in passenger traffic and strong cargo volumes. A total of 522,873 passengers travelled with the airline in 2015, resulting in 22% more traffic than in 2014.

The airline’s passenger carrying capacity, measured in Available Seat Kilometres (ASKs), increased by seven percent to 1.7 billion by end of 2015. Despite this increase the airline’s seat load factor rose by six percentage points from 60% in 2014 to 66% in 2015.

Joël Morgan, minister of foreign affairs and transport and chairman of Air Seychelles, said: “The profit is another wonderful result for our national airline and for future of aviation in Seychelles and the Indian Ocean region. Air Seychelles has enhanced the image of our country. We will continue to consolidate Air Seychelles position by making investments that will allow the airline to continue on its current trajectory of further growth.”

James Hogan, president and chief executive officer, Etihad Airways further added: “Air Seychelles is delivering on both levels of our equity investment strategy.  It has extended our network, adding new revenue opportunities and sharing in economies of scale our grouping of airlines can achieve.

Key developments since July 2015 include a turnaround plan to transform and bring efficiencies into the airline. Three new Airbus aircraft added to its fleet, with two A320s and one A330. As a result, the airline was able to tap into new markets and grow number of frequencies in its regional network.

Of the total passengers carried, 30% were contributed by partner airlines, generating 41% of Air Seychelles’ passenger revenue, demonstrating importance of growth through partnerships.

Gary Marshall
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Gary Marshall
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