Air Seychelles announces withdrawal of winding up petition filed against the airline
The Government of Seychelles, the Administrators, the Board and the Management of Air Seychelles are pleased to announce that the winding up petition, which had been filed against Air Seychelles by the representatives of the Noteholder Committee of the Bondholders, has today, on the 11 May 2022, been withdrawn by their representatives.
The petition has been withdrawn on the basis that Air Seychelles has been able to provide the settlement funds of approximately USD 28m in escrow. The winding up petition was initially filed against Air Seychelles on the 19 August, 2021.
Air Seychelles entered into company reorganisation on 4 October, 2021. Withdrawal of the winding up petition is the first step toward the airline’s exit from the company reorganisation process.
The outlook remains very positive as all of Air Seychelles’ core destinations have reopened with minimal COVID-related restrictions in place. Frequencies will be added throughout the year as demand dictates. Oil prices remains a challenge for the carrier, but contingency strategies such as the ACMI operation (long-term charter) will help mitigate potential spikes or future COVID-related disruptions and other negative economic impacts.
About Air Seychelles
The Seychelles national carrier has been flying for over 45 years. Wholly owned by the Government of Seychelles, the carrier operates regionally from its home in Mahe to Tel Aviv, Johannesburg, Mumbai, Colombo and Mauritius with state of the art Airbus A320neo’s. Domestically the carrier operates up to 30 roundtrips a day to Praslin, the second largest island in the archipelago, along with various charters to other islands on its twin-otter fleet.
In 2022, Air Seychelles managed to retain the most coveted title of ‘Indian Ocean’s Leading Airline’ at the 29th edition of the World Travel Awards as well as, ‘Indian Ocean's Leading Airline Business Class', 'Indian Ocean's Leading Cabin Crew' and 'Indian Ocean's Leading Airline Lounge.'
Information contained in this press release is accurate at the time of publication.