Air Seychelles conducts company-wide remuneration review as part of restructuring plan |26 March 2022

^{As part of Air Seychelles’ 2021 five-year plan, the airline is currently finalising the review of its structural remuneration scheme.}

^{This is part of the company’s objective of navigating and recovering from the Covid-19 pandemic without the government of Seychelles’ funding and working towards the sustainability of each business unit, namely international, domestic and ground handling.}

^{The structural remuneration review is being conducted by an independent consultant, in consultation with the workers’ union, staff members, management and Air Seychelles board.}

^{This revised remuneration scheme will take effect from April 1, 2022 and is occurring against the backdrop of the ongoing pandemic, leading to unprecedented uncertainties and challenges in the operating environment, and further aggravated by the recent surge in global oil prices.}

^{Reiterating the press release issued on October 24, 2021: “The government of Seychelles’ ability to assist Air Seychelles financially is also limited by the capping arrangements agreed with the International Monetary Fund (IMF) whereby no further subsidy by government to Air Seychelles is permitted.” As a result, Air Seychelles as a company must, on its own, settle its negotiated debt obligations and be self-sustainable.}

^{The airline will continue to review its strategies to adapt to the ever-changing environment and seek new opportunities to proceed on its path towards sustainability.}

^{Press release from Air Seychelles}