Out of the turmoil: Air Mauritius makes Rs 284 million profits

The national carrier is benefiting from profits. Figures for the quarter ended 31 December 2015, released by Air Mauritius, show profits of Rs 284 million, against losses of Rs 348 million for the same period in 2014. The airline carried a total 418,188 passengers during that period as compared to the 375,156 passengers registered during the corresponding quarter in 2013. Thus representing and increase of 11.5% over the two periods under review. The number of seats offered increased by 3% and the Passenger Load Factor increased from 73.1% to 80.6%. Operating revenue increased by 5.9% from Eur 123.7 million to Eur 131.1 million whereas operating expenses decreased by 4.1% to reach Eur 112.1 million mainly on account of lower fuel prices, in spite of a weaker Euro. The average exchange rate of the Euro versus the Dollar for the quarter ended 31 December 2015 stood at 1.10 as compared to 1.25 for the period October-December 2014. “The recent improvement in financial results is expected to continue for the last quarter, despite increased competition. As such, the Company would continue to benefit from the prevailing fuel prices and from further measures to enhance productivity. Furthermore, Air Mauritius is also taking a series of initiatives in order to improve connectivity between Africa and Asia,” the board stated.