The small national company is forced to let go of its 11 pilots, while waiting for a ray of light in the sky darkened by the pandemic.
The airline was once considered for privatisation after Etihad Airways took a stake in it, but the Seychelles state has now returned to the fold, fearing its demise. The United Arab Emirates-based Etihad Airways has agreed to a steep discount on the 40 per cent stake it holds. Air Seychelles owed Etihad $72.3 million; with the 79% discount, Seychelles will pay $11.34 million. A total of $71.5 million is still owed to bondholders and Seychelles is in talks with the African Trade Development Bank for a loan to clear this debt. The future of the company is due to be discussed by the Council of Ministers on Monday. Air Seychelles has two Airbus A 320 and five small planes to serve the archipelago.
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