Air Seychelles today announced third quarter revenues of US$13.8 million, up 23 per cent on the second quarter, as the airline’s management attributed to the implementation of the  restructuring program took with the aim to achieve profitability for 2012.

In January 2012, Etihad Airways took a 40 per cent shareholding in Air Seychelles and has a five-year management contract. 

The 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 increased from 43 per cent to 60 per cent.

Air Seychelles’ management team had a confident tone that the airline will achieve profitability in 2012, after several years of losses.

Cramer Ball, Air Seychelles’ chief executive officer 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.”

Flights to Abu Dhabi have increased to four per week, with onward destinations rising from 57 to 375 per week.

The number of domestic passengers carried over the last three months also increased, up 30 per cent to 43,949 compared to the previous quarter.

This included 17,215 residents flying locally with the airline, an increase of 27 per cent, while the number of international visitors on domestic routes increased by 32 per cent to 26,734. And a 14 per cent increase in domestic flights with 3,283 domestic flights to Praslin, Bird Island, Denis Island, Fregate Island and D'Arros.

Third Quarter Highlights Include:

• The introduction of the first Airbus A330-200 into the fleet; a second is to follow early in 2013.
• The launch of Air Seychelles’ new in-flight product and service on international routes.
• The integration of Air Seychelles’s frequent flyers program with Etihad’sThe introduction of 19 new codeshare destination.A training agreement with the Seychelles Tourism Academy (STA) for Seychellois nationals for a career in aviation.
• Training of the cabin crew, pilots type rating for the  Airbus A330-200, engineering program, graduate development management program and the cadet pilot program.

Q3 2012 results (vs Q2)