Air Seychelles posts 6.6% rise in net profit for last year

Air Seychelles this morning posted a 6.6 per cent jump in annual profit for last year.

The Indian Ocean airline, part-owned by Etihad Airways, reported earnings of US$3.2 million in 2014 versus $3m the previous year. Revenue rose 20 per cent to $106.9m.

Chief executive Manoj Papa said that he plans to increase passengers numbers by 15 per cent this year. It carried 412,088 passengers in 2014.

Mr Papa said that his airline will be launching code-share agreements with India’s Jet Airways and Air Mauritius during the second quarter of 2015.

A code-share agreement between two airlines allows them to sell and market each others’ tickets as their own; hence it improves connectivity and fills seats that could be empty otherwise.

Air Seychelles already flies to Mumbai in India since December, but the code-share will allow it to connect to five cities in India beyond Mumbai.

“We are in advanced stages,” said Mr Papa. “It might be in the second quarter. Once we get the [Indian] regulatory approval, we will be able to move forward with that.”

Mr Papa said he expects Air Mauritius code-share to be in the second quarter too.

“We got the regulatory approval and we are finalising the technical issues of our partnership,” said Mr Papa.

selgazzar@thenational.ae

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Shereen El Gazzar

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