Air Seychelles revenue up 23% in 3Q2012, on track to breakeven in full year 2012

Air Seychelles reported (10-Oct-2012) revenue of USD13.8 million in the three months ended 30-Sep-2012, up 23% when compared to three months ended 30-Jun-2012. The carrier attributed the result to a 51% increase in passenger numbers to 79,887 and a 17 ppts increase in load factor to 60% in 3Q2012. Air Seychelles' management team is confident that the airline will achieve its target of profitability in 2012, marking a major turnaround after several years of heavy losses. Air Seychelles CEO Cramer Ball said the airline's relationship with its shareholders Etihad Airways and Seychelles Government was also significant in its improved performance in the quarter. [more - original PR]

Air Seychelles: "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," Cramer Ball, CEO. Source: Company statement, 10-Oct-2012.