AIR Seychelles has announced a strong second quarter and half-year financial performance, reflecting continued solid growth and success in its turnaround strategy.
In Q2, the national carrier of the Republic of Seychelles posted total revenues of $26.03 million (up from $10.87 million in 2012), a significant increase of 139 per cent. Total revenues for the first half of 2013 reached $42.05 million (2012: $18.76 million), up by 124 per cent.
Q2 passenger revenues came in at $17.5 million (up from $7.1 million in 2012), a significant increase of 146 per cent. Passenger revenues for the first half of 2013 reached $27.97 million (2012: $14.0 million), up by 99 per cent.
Passenger numbers on the airline’s domestic and international services in Q2 2013 grew 56 per cent, rising to 82,893 from 53,066. In the first half of 2013, passenger numbers grew by 44 per cent to 146,980 (2012: 101,977).
Air Seychelles’ chief executive officer, Cramer Ball, attributed the Q2 and half-year results to the airline’s ongoing turnaround strategy, which included significant expansion of international services following the addition of a second Airbus A330-200, and greater revenue contributions from its equity partner Etihad Airways and codeshare partners.
Ball says: “At the beginning of the year, we committed to the further development of our network through organic growth and partnerships and we have delivered on that promise. Today, thanks to our new codeshare partnerships and the expansion of our codeshare agreement with Etihad Airways, Air Seychelles now flies to four continents. We are realising significant returns on these relationships, with a 34 per cent contribution to our total revenue in the second quarter.”
The airline expanded its codeshare agreement with Etihad Airways to include Dublin, Melbourne and Sydney, bringing to 23 the number of codeshare destinations served by the airlines. Air Seychelles also signed codeshare agreements with airberlin, South African Airways and Czech Airlines, adding Berlin, Düsseldorf, Johannesburg and Prague to its codeshare network.
Increased services to Johannesburg, Mauritius and Abu Dhabi, and the launch of services to Hong Kong further reflect the airline’s growth, effectively doubling weekly international services from eight in 2012 to the current 16. The new international schedule was made possible by the entry into service of the airline’s second Airbus A330-200 passenger aircraft.