Like many of you I am now more anxious than ever to know what will be the outcome of the re-positioning of Air Seychelles and the consequences of this move. It is a struggle for me not to be emotive or even angry at times but I know from being a trained soldier and Training airline Captain that strong emotions only goes to cloud judgement and leads to bad decisions or skewed judgements.
I appreciate that so many of you and staff are unable to get the full picture because you are not aware of all the FACTS and the real situation is once again clouded by rumours and half truths. This is not right.
Firstly it is very true that the aviation scene especially the European one is a bloodbath and leisure national airlines such as Air Mauritius and Air Seychelles are losing money on European routes.
It is a FACT that HM and ALL the Arab airlines are losing millions on the Seychelles route. Load factors are too low and yields are bad. Not to mention that we have practically no cargo outbound from Seychelles.
We need to understand why HM has got itself in such a situation.
Between 1997 until 2010, or for 13 lucky years the Govt did not ever have to bail out Air Seychelles and as such the airline did not receive a single rupee in subvention.
In 2010 HM received 33 million rupees from the shareholder to go against the purchase of a brand new twin otter which cost around 60 million rupees. This was passed by the national assembly. At the end of the financial year in March 2010 HM had registered a very modest profit of €500'000.
My board and I however warned Ministry of Finance back in 2009 that going forward that Air Seychelles would need huge subventions because it had been announced that Emirates , Qatar and Etihad were to be given daily frequencies after a powerful lobby from many in Seychelles especially the trade. We met with Ministry of Finance and documented our concerns. They called for a number of audits of the company.
There was firstly a Management Audit by PEMD Ministry of Finance, then an audit by Ernst & Young, France requested by IMF followed by a specialist Aviation audit by an American firm named GRA. The findings were shared with HM staff and GRA confirmed that HM was a well run company and no financial irregularities were discovered by any of those audits.
The HM board were told that because of the IMF program not to expect any Financial help. This is when we at the airline went out aggressively to look for acmi charters in 2009. We were successful and we actually had more demand than what we could effectively do. The first was the Falklands in Feb 2010 then the Mozambique, however the Mozambique was to start in April 2011 as we could not start earlier due to crew training etc... From April to November 2010 we had registered a loss of € 4 million and cash-flow was tight . We needed a line of credit from the banks to see us through till the Mozambique charter started. Those loses were expected as EK and QR had doubled their frequencies and our market share was decreasing rapidly. No surprises. Ministry of Finance were concerned that the IMF would not allow borrowings by HM and the board of Air Seychelles was changed late December 2010 and the PS Finance, Mr Afif became the vice Chairman of the board to ensure that changes were implemented and that the airline brought back into profit.
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31 comments:
If Savy's position is true ,which seems to be the case ,esle he won't have come public,he definitely shows that Michel governemnt is the one to be blamed.Their has been a constant effort by Michel to destroy this industry in order to favoured and fulfill Khalifa's wishes.
MOreover,Michel told us that is a reason of competition.Well,Michel as a government when you sign any contratc regardless with whom ,the first thing that yo must do as president is ensure that these comtratc do not destroy our country's interests and if any contracts would destroy NATION INTERSTS THEY SHOULD SIMPLY BE REFUSED.
The impression i have from Pp expalination is that Michel act as if his governemnt is a private Airlines company that is uncountered copetition from other pirvates Airlines that his company cannot cope.Michel give us the feel that those Arabs lines have more power than him the President and they wanted to fly here as they wish and we cannot do anything against it.But Donkey ,we a sovereign state we alone have the last say in anythings intake in our country.
Time for regime change.
Jeanne D'Arc
DAVID SAVY IS PROTECTING HIS ARSE!
JEANNE D'ARC give us a peace with your DAVID SAVY statement,it is near CHRISTMAS TIME,Seychellois has better things to do and to think about.We need GOD HELP more than ever before.
See the UK AND US GOUVERNMENT has made a statement that worry so many people.Lots of UNTHINKABLE are happening around the world today.Another big TSAUNAMI i will not be shock.
WHy you do you have a problem with my post of David? Could it be that his words or oppostion to PP explanation on why Airsey is bankrutped is so embarrassing for Pp ?
Xmas is a celebration for beleivers not for atheists and communsits.
That you won't be schocked by another Tsunami and many victims,is in itself not schocking for a butcher is used of killing cold blooded .
Jeanne D'Arc
We have our own house to clean. Seychelles is an independent country with our very own constitution that is in dire need of an amendment and yet this MF want us to stay quiet because the UK and the US is in a mess.
We should invite David to join us on this march to freedom.
A FREEDOM LOVING SESELWA
oh please let David Savy go hang his shingle somewhere and work for his living ..he does know how to fly planes..deliver us from EVIL please we have enough do not add more..next we will be feeling sorry for Guy adam and what he has done to SEYPEC!>>
Party Lepep has bribed the judges and David Pierre has just won his case to become the Leader of the Opposition in the Assembly.
This is the worse day for JUSTICE in Seychelles and I would ask the Chief Justice and all the lawyers in Seychelles who believe in an independent Judiciary Branch of Government to step down and refuse to go to court. By doing so, you will be showing solidarity with the people of Seychelles as it is now clear there is no judiciary branch of Government left in Seychelles, but rather a Court of Appeals that is clearly in the pocket of James Michel. McGregor is a traitor to justice for the people of Seychelles and so is that joke of an Attorney General Ronny Pineapple face Govinden.
Sooner or later, bullets will start flying in our country as we need to take our country back with violence. The days of talking are over as no one is listening and Party Lepep continues to dismantle justice with corrupt judges in their pockets.
As for David Pierre, he is nothing but a loser who was paid SR 5 million by Parti Lepep plus promises of Opposition Leader if he stood. Cash all went through the dirty hands of notary Gerard Maurel, another traitor hiding behind sheep's skin and pretense. All those people are Judas' that will sell our democracy for a silver coin!
Fucking bastards all of you traitors and I hope you get what's coming to you soon. Start hiding behind closed doors and wearing bullet-proof vests as your bodyguards might just be the ones who put that bullet into your brains. Remember Kabila of Congo? Remember Julius Caesar and Brutus?
Pierre can continue playing pp fool but he must keep in mind that Pp won't be forever on power and when the time come he Pierre would face justice for conspiracy.His name will be listed ,once Pp topple he will face justice too.
Jeanne D'Arc
Congratulations to David Pierre in winning his case.
It does not matter if 10 or 10,000 people voted for him he should have been made the Leader of the Opposition. It is truly sad that Wavel fell into the intelligence trap by not contesting the e lection. David Pierre saw the writing on the wall and exercised his domocratic right to sote and formed his own Party. Sur cette Pierre, he will only go from strength to strength and TIKLO wishes him the very best for the future.
Sir James Mancham co-allition at Independence would have been democratic had Finlay Rosalie been made the Leader of the Opposition with only one solitary vote.
Tikok he a CAMMARADE in of the same gang of PP crooks,so it is not strange that he recieved you congratulation.
Jeanne D'Arc
THERE IS NO INDEPENDENT JUDICIARY..ALL SPPF FAITHFULS
This sucker Faure is talking about corruption,but he and his gang communist are most corrupt in Africa.Seychelles are 10 in Africa on the corruption list.
Johnny
Pierre e kabo,he just want communist to continue to rule like you tiklo aka pissoff,Sa liki e zero behind a zero in school he was a no body just a loser,with this 5 million now he can buy a some more diamon ring and some golden ring.its nearly time for me to take my sniper gun and take those bastard one by one down.
Here we go ,Faure the same guy who under his watch Pp crooks transfers 2,5 billions of our money into Swiss bank and did not or participated in this gross crimes.This these same guys who are known as the most corrupted crooks this country ever know who want to fight aga8inst corruption.It is as if you tell a criminal to be the judge of his own crimes.
There is only one way to fight corruption effectively ,not by Pp crooks ,but by a new democratic government.
But since Faure is calling to radicate corruption ,i will ask him to start by making public Ernst and young reports on Airsey,IDC,SEPEC,investigates all those parastatals to see how all the multi-miilions taken from our coffers to bailed out those companiews where used and abused.
Faure can also come forward and explain to us how come that a private company like Eden isalnd was given land paid by tax payers money ot a ofriegner for 99 years and invests millions of tax payers monrêy in this private comapny while at the same time Pp is telling us that it does not have money ot put into and save our Nat Airline.
Faure could open an investigation on the wghereabout of the millions stolen by Chang lang (ex central bank director)Morgan 4,5 millions,Money given by European & millions we do not know there it has gone.
Bring into court Michel and ilks who illegally sgifted our patrimony to Khalfia and other Arabs,sold passports to foreigners,and so .I think Faure has more than enough cases efore to look into,we will judge him by his willingness to deliver and bring Pp crooks for justice.
We expecting Faure and Pp crooked regime to lead by example.
Jeanne D'Arc
Fuck you!we dont give a dumm about christmas,because christmas is just a day that come and gone,but with those mafia we have to live every day with their bullshit.
Johnny
JOHNNY don't let those TRAITORS,DECEIVERS,ETC..torment you with all their political fiasco.You are just filling your heart with hatred which is not good for your health and your spiritual life.
Do not be quickly provoked in your spirit for anger resides in the lap of fools.
Hi Johnny salanm-al-ekoum mon dalon! I don't give a damn about Chrismas either!
Al-Hijra and Eid is the future!
Allahu Akbar my brother!
JOHNNY, tik alibaba.
MERRY CHRISTMAS AND A HAPPY NEW YEAR.
Francis Savy sold Air/Sey route to the Arabs long ago James Michel was aware if it he remain silent, because see Seychellois he got his pocket filled,Our former President Mancham is praising the Saudi King and the uneducated President Michel.saying the Arabs are helping our country. No they are taking over our Country soon Kalifa will asked us all to Islam, over my dead body I will fight this Kalifa by all the necessary means at my disposal, and he will not take my Country. Arabs from Seychelles go home you stink under those dress. go back to the desert and enjoy yourself with your camels. this peaceful part of ocean does not belong to you. James Michel(uneducated) James Mancham, Albert Rene (both educated) and others stop selling our land to the Arabs
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