James Hogan, the chief executive officer of Etihad Airways has declared that Air Seychelles will return to profit in 24 months after a restructuring that will involve more job cuts.
Etihad owns 40% of Air Seychelles and has a five-year management contract of airline. The new management has already made 166 job cuts, with a second round expected in the next six weeks.
Hogan said: "Air Seychelles is a strong business proposition and Etihad Airways will do everything we can to ensure it achieves sustainable growth while offering passengers best in class service.
"When we partnered with Air Seychelles we made a commitment to support Air Seychelles' quest to emerge as a viable airline offering world class service commensurate with that being offered by Etihad Airways. The business plan we presented is the tangible result of that commitment.
"It makes strong commercial sense for us to work together on issues where co-operation is possible. The resulting synergies will bring about significant efficiency benefits for both Etihad and Air Seychelles."
Etihad claims Air Seychelles will be profitable within two years
