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Air Seychelles Says It Will Return to Profitability

(Corrects second paragraph to show that the former management cut jobs.)

March 16 (Bloomberg) -- Air Seychelles Ltd will return to profit in 24 months after a restructuring that will involve more job cuts, James Hogan, the chief executive officer of Etihad Airways said.

A second round of job cuts will take place in the next six weeks after consultations with workers, Hogan told reporters today in the capital, Victoria. In January the former management of the airline fired 166 workers.

Etihad owns 40 percent of Air Seychelles and has a five-year management contract of the island’s national airline.

To contact the reporter on this story: Richard Ramasawmy in Johannesburg at rramasawmy1@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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