The story
Establishment
Seychelles Airlines was formed as the national airline of Seychelles on 15 September 1977 by merging two local carriers: Air Mahé and Inter-Island Airways. It was named Air Seychelles in September 1978. The airline began international routes in 1983 to Frankfurt and London.
Investment
In February 2012, Etihad Airways, invested US$45 million in Air Seychelles for a 40% share in the airline following problems of management and profitability. After operating at a loss for two years in a row, Air Seychelles planned to restructure and re-position itself to return to profit. The airline entered into codeshare agreements with Etihad Airways and started flying to Abu Dhabi in March 2012 to connect to Etihad Airways' network of destinations.
On 16 March 2012, Air Seychelles announced a two-year business plan including the renewal of its fleet, leveraging Etihad Airways equity partnership – known as Etihad Airways Partners (which also included Alitalia, Air Serbia and Virgin Australia), the introduction of Airbus A330−200 aircraft after over two decades of an all-Boeing fleet, increased frequencies to key destinations, and closer cooperation with Etihad Airways.
On 12 March 2015, Air Seychelles released their results for 2014, declaring US$3.2 million in net profits.
Restructuring
In January 2018, Air Seychelles announced the closure of its sole long-haul route to Paris, the return of its two Airbus A330 long-haul aircraft, and a focus on its regional network. The plan is aimed at ensuring the long-term profitability and sustainability for the airline, in response to rapidly increasing competition. Remco Althuis, Interim CEO, said, 'The launch of competing air services from Europe to Seychelles will significantly impact Air Seychelles' flights to and from Paris, which account for approximately 30% of total passenger revenue at the airline, making the route unsustainable.' The airline will refocus on its domestic and regional networks, with a reduced workforce.
From Wikipedia’s article on Air Seychelles, shared under CC BY-SA 4.0.4
