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Seychelles by the representatives of the Noteholder Committee of the Bondholders, has today, on the 11 May 2022, been withdrawn by their representatives.
The petition has been withdrawn on the basis that Air Seychelles has been able to provide the settlement funds of approximately USD 28m in escrow.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.