Air Mauritius back in the black in FY2011

Air Mauritius reported the following preliminary financial highlights for the 12 months ended 31-Mar-2011:

• Operating revenue: n/a, +17.3% year-on-year;
• Operating costs*: n/a, +25.3%;
• Profit: EUR10.3 million, compared to a loss of EUR6.0 million in p-c-p;
• Passenger numbers: 1.3 million, +14.3%;
• Passenger load factor: 79.8%, -0.8 ppt;
• Average passenger yield: +3.9%;
• Cargo volume: 31,895 tons, +16.0%. [more]

*Excludes fuel hedge losses

Air Mauritius: "Despite the improvement in profitability, the company will continue to face the challenges of rising prices of jet fuel, fall in demand, pressure on yields and accrued competition. The company therefore remains cautious for the coming year," Company reports. Source: Air Mauritius, 16-Jun-2011.