Air Mauritius Flying High Despite Quarterly Loss
Air Mauritius financial results for the first quarter of their 2017/2018 financial year reports positive operating performance despite a bottom-line impacted by a non-realized deficit.
The first quarter normally coincides with the low tourist season, for which Air Mauritius forecasted negative results, also taking into consideration intensified competition and higher fuel prices.
Air Mauritius’ bottom-line has been impacted by unrealized accounting losses of EUR 5.6 million following a re-evaluation of assets and liabilities at 30 June 2017 as compared to 31 March 2017, with unfavourable foreign currency fluctuations. The EUR 5.4 million negative bottom-line is in line with forecasts in spite of excellent Operating Results, which has been the trend for past quarters.
With good operating performance, Air Mauritius is on-track to achieve its financial targets, as well as a positive result, for the current Financial Year.
The following illustrates the good Operating Performance for the quarter:
- Record seats offered ~ increased by 8.5% to reach 522,702
- Record number of passengers carried ~ increased by 11.6% to reach 383,329
- Record revenue of EUR 115.8 million ~ increased by 5.9%