Air Seychelles’ rescue plan

Air Seychelles plans to pay off $27.8 million of the $76 million initial debt owed to bondholders as part of the national airline’s rescue plan in an agreement between the company’s administrators and its creditors. Air Seychelles administrator, Bernard Pool, confirmed that consultations will continue between the administrators, Air Seychelles and the government to ensure the conditions set within the plan are met in full. “Whilst the financial aspects of the rescue plan remain our immediate pre-occupation, the restructuring of Air Seychelles, which forms part of the rescue plan, will then need to be addressed,” said Pool.