Air Seychelles posts third consecutive year of net profitability

Air Seychelles, the national carrier of the Republic of Seychelles, reported a third consecutive year of profitability after recording a net profit of US$3.2m for 2014. The result exceeds last year’s profit of US$3m and reflects continued improvement in the airline’s key performance indicators, following Etihad Airways’ acquisition of a 40% share in 2012 and the implementation of a turnaround plan to create a sustainable business. As a result of significant network growth in 2014, total revenue increased by 20% to US$106.9m, compared with US$88.7m in 2013. Passenger revenue accounts for US$81m– up from US$66m in 2013. Cargo tonnage for the same period rose strongly by 34% to 7,311 tonnes, up from 5,441 tonnes in 2013.