Air Seychelles profit surges to Sh294.4 million
Business
By
Philip Mwakio
| Mar 28, 2015
Air Seychelles has recorded a net profit of $3.2m (Sh294.4 million) for the year ending 2014.
The results exceed last year’s profit of $3 million (Sh183 million), following Etihad Airways’ acquisition of a 40 per cent share in the airline in 2012, and a turnaround that created sustainable business.
Total revenue increased by 20 per cent to $106.9 million (Sh9.752 billion), compared to $88.7 million (Sh8.09 billion) in 2013. Passenger revenue accounted for $81 million (Sh745 million) – up from $66 million (Sh608 million) in 2013.
Cargo tonnage for the same period rose by 34 per cent to 7,311 tonnes, up from 5,441 tonnes in 2013.
“The continued strengthening of the business is is as a result of effective management team, committed workforce and strong partnership with Etihad Airways,” said Air Seychelles Board Chair Joël Morgan.
READ MORE
Is government on 'fuliza' mode?
Expert: The shilling has regained value, but don't expect it to last
EAC Central Bank Governors meet in Juba as single currency race debate heats up
Ruto to push for global finance reforms at World Bank meeting
Unearthing the artifacts of WWII: A journey through Matuu and beyond
Roam, County Bus Service partner to deploy 200 electric buses
Budget cuts loom for Parliament thanks to Sh9.6b Bunge Towers
Private sector partnerships important to catalysing sports
Tax stand-off as boda boda riders defy county call to pay
Islamic banking gets traction in Africa as Salaam Bank feted