NewsSouthern AfricaAviation: Rise in traffic helps brings Air Mauritius back into profit

Fri,22Feb2019

Posted on Thursday, 11 August 2016 11:48

Aviation: Rise in traffic helps brings Air Mauritius back into profit

By Jean Paul Arouff

Photo©ReutersA 9 percent rise in passenger traffic helped Air Mauritius swing back into profit in the last quarter, having made a loss in the same period last year, the airline said on Thursday.

The Indian Ocean island's national airline posted a pretax profit of 2.1 million euros ($2.34 million) in the three months ended June 30, the best quarterly performance in the last 10 years and comparing with a loss of 9.8 million euros a year ago.

Air Mauritius carried 343,473 passengers in the quarter, up 9 percent on a year ago, helping generate earnings per share of 0.02 euros compared with a loss of 0.09 euros last time.

However, the airline said its average fare yield dropped 5.6 percent due to tough competition. Revenue increased by only 2.7 percent to 109.4 million euros.

The company said it is taking various steps to boost traffic on its network and looking for ways to cut costs. "In spite of the challenging environment and fiercer competition in our major markets, the company is committed to further improve its financial performance for this year," it said.



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