Air Seychelles exited Administration on November 8, 2022, after paying off its debts and reached financial stability, according to the Ministry of Transport. The restructuring was the collective effort of the Ministry, Administrators, the Air Seychelles’ board, management, staff members, and legal counsel. At the start of the Administration, Air Seychelles net assets position was negative $85 million. After the execution of the rescue plan, this improved to a positive net asset position in excess of $12 million, marking an improvement of over $96 million. Transport Minister Antony Derjacques said: “Air Seychelles’ rescue plan was presented to the court, and
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