Air Seychelles sees 23 per cent revenue growth

Air Seychelles on Wednesday announced third quarter revenues of $13.8 million, up 23 per cent on the second quarter, as the airline’s restructuring program took effect in the drive towards profitability for 2012. Etihad Airways has 40 per cent shareholding in Air Seychelles and a five-year management contract. Air Seychelles, growth in revenues was led by a 51 per cent quarter-on-quarter increase in passengers, up from 53,066 to 79,887, as seat factors rose from 43 per cent to 60 per cent. Cramer Ball, Chief Executive Officer of Air Seychelles, said: “The scale of the task in turning around this company has been significant. There is a fantastic business here based on enthusiastic and committed people, but it needed a more effective commercial focus. Working together, we have been able to bring that new focus to bear. “In this quarter, we have started to see the results. We are not just attracting more passengers but we are seeing higher yields on all our routes. Our costs are falling quickly, as new efficiencies come into play, and we are now running ahead of budget in our cost-cutting program.” Ball said the positive impact of cooperation with shareholders Etihad Airways and the Seychelles Government was really starting to be felt. From gulftoday