Air Mauritius operating loss narrows in 1QFY2015, continues to face increasing competition

Air Mauritius revenue up 5% - financial highlights for three months ended 30-Jun-2014:

• Revenue: EUR104.8 million, +5.4% year-on-year;
• Operating costs: EUR103.5 million, +2.6%;
• Operating profit (loss): (EUR5.7 million), compared to a loss of EUR7.9 million in p-c-p;
• Net profit (loss): (EUR6.7 million), compared to a loss of EUR8.1 million in p-c-p;
• Passenger numbers: 298,624, +7.0%;
• Total assets: EUR337.6 million;
• Cash and short-term deposits: EUR18.3 million;
• Total liabilities: EUR262.5 million. [more - original PR]

Air Mauritius: "IATA forecasts continued improvement in passenger and cargo revenues worldwide. The Company however, continues to face increasing competition on major routes. Preventive and proactive measures are being taken by the Company to further improve its performance." Source: Company statement, 15-Aug-2014.