Air Mauritius falls into the red in 3QFY2012

Air Mauritius revenue up 4% - financial highlights for three months ended 31-Dec-2011:

• Operating revenue: EUR129.5 million, +3.6% year-on-year;
• Operating costs: EUR123.0 million, +19.6%;
• Operating profit (loss): (EUR479,000), compared to a profit of EUR14.6 million in p-c-p;
• Net profit (losses): (EUR2.8 million), compared to a profit of EUR12.6 million in p-c-p;
• Passenger numbers: 369,964, +1.7%;
• Passenger load factor: 79.7%, -3.2 ppts;
• Cargo traffic: -3.0%;
• Total assets: EUR373.5 million, -2.9% when compared to period ended 31-Mar-2011;
• Cash and cash equivalents: EUR23.3 million, +0.3% when compared to period ended 31-Mar-2011;
• Total liabilities: EUR277.3 million, +2.6% when compared to period ended 31-Mar-2011. [more - original PR]

Air Mauritius: "With the Eurozone Sovereign debt crisis and economic turmoil in the main market serviced by Air Mauritius, the situation remains highly challenging. High oil prices, continuous pressure on yield and depreciation of the Euro, will continue to severely affect the results of the Company. As per the cautionary announcement issued today, the Board is closely monitoring the situation to ensure that the Company's long term interests are preserved. Measures to optimize the current network, reduce costs and improve the existing organizational structure are being implemented," company statement. Source: Air Mauritius, 14-Feb-2012.