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03-Jul-2009 5:38 AM

Air Mauritius hit hard by global crisis

Analysis

In the year ended 31-Mar-09, Air Mauritius posted a loss of EUR84.3 million (USD119.1 million), after dropping a hefty EUR50.8 (USD71.8) million from the unwinding of 40% of its fuel hedge portfolio - to which it had committed at a price of USD105 per barrel. By contrast, in 2008 the carrier made a gain of EUR5.8 million (USD8.2 million) on fuel hedges.

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