Exseychellent!

This achievement marks, not only a successful continuation of its turnaround journey initiated in 2022, but also signals a strong revival. It also marks a second consecutive profitable year for the airline. These figures showcase the airline's dedication to outperforming set objectives and delivering exceptional results to stakeholders.

The main force of Air Seychelles is its team spirit, from top management to new recruits. The unwavering dedication and smartness of each member of its staff explains this success story.

"Your professionalism, creativity, and teamwork have driven our success and exceeded our expectations, demonstrating once again that our people are our greatest asset. As we move forward, Air Seychelles remains dedicated to excellence, growth, and resilience, securing a bright and prosperous future for our company and stakeholders," avows Sandy Benoiton, CEO of Air Seychelles.

Despite challenges, such as the suspension of flights to Tel Aviv due to the conflict in Israel since 13 October 2023, which resulted in a revenue loss of USD 2.1 million for 2023, Air Seychelles managed to increase revenues by USD 2.8 million, partly due to the launch of the Colombo route.

Furthermore, the national airline has continued to lease out one Airbus A320 NEO of its fleet on wet-lease (ACMI) operations during 2023, with the other A320 NEO operating the regional network. The resilience demonstrated by the airline amid these trying circumstances highlights its strategic initiatives and adaptability within the competitive aviation market.

To manage its financial health, Air Seychelles has diligently focused on debt reduction. It has paid down USD 4.9 million of its bank loan with Nouvobanq, hence reducing its outstanding loan balance from an initial sum of USD 16.5 million to USD 11.6 million by August 2024. Air Seychelles has also completely paid off its lease deferral debt of USD 4.5 million, incurred during the Covid pandemic.

According to Sandy Benoiton, as part of its ongoing strategy to navigate the complexities of the aviation industry, Air Seychelles “has made significant strides in addressing maintenance cost escalations”, particularly concerning its Airbus A320 NEO engine fleet. In 2023, the airline took proactive measures by establishing a conservative annual accounting provision of USD 2.5 million dedicated specifically to cover potential return conditions for the aircraft and its engines.

“This foresight not only highlights Air Seychelles' commitment to financial transparency but also stabilises future profit expectations, ensuring robust financial health for the airline. As the airline looks forward to the future, it remains dedicated to delivering exemplary service, fostering innovation and achieving sustainable growth.”

Air Seychelles has consolidated its connectivity with seasonal flights to La Réunion as from end-December, 2024 in collaboration with Tourism Seychelles. Weekly direct flights to Roland Garros Airport are scheduled throughout January 2025 with a technical stop in Mauritius.

Benoiton says that Air Seychelles has built “on the positive response received upon announcing the signing of the SPA agreement with Air Austral and the succeeding meetings with the travel trade in Reunion” to offer a hassle-free journey to visitors especially during the end of year festivities.

As Bernadette Willemin, director general for destination marketing at Tourism Seychelles rightly puts forth, “this strategic initiative” reinforces the archipelago’s position “as a premier tourism destination in the Indian Ocean region”.

Air Seychelles has also signed a new code-sharing partnership with Sri Lankan Airlines to expand the number of destinations accessible to customers flying between Mahe and Colombo.

In its search of excellence, Air Seychelles has also entered into a partnership with ExecuJet, a leading global business aviation company, to provide exclusive VIP fixed-base operator (FBO) premium services in the Seychelles. ExecuJet vice president Africa, Gavin Kiggen, thus guarantees "unmatched FBO services that cater to the needs of high-profile travellers visiting the Seychelles".