Air Mauritius reports surge in 2QFY2011 profit, outlook encouraging

Air Mauritius reported (11-Nov-2010) the following financial highlights for the three months ended 30-Sep-2010:

• Operating revenue: EUR16.1 million (17.9%) year-on-year;
• Profit*: EUR5.0 million, +72.4%;
• Passenger numbers: +17.8%;
• Cargo volume: +20.3%;
• Passenger yield: +3%;
• Cargo yield: +3.9%;
• Shareholders' funds: EUR104.0 million, -1.1% when compared with the period ended 31-Mar-2010. [more]

*Includes losses of EUR2.3 million on fuel hedge payouts

Air Mauritius: "Continued uncertainty in Europe, the main market of Air Mauritius, compels the company to remain cautious. Nonetheless, the market outlook in the third and fourth quarters is encouraging and the upward trend is expected to be sustained. The company remains on course to attain its targets for the financial year," Company statement. Source: Air Mauritius, 11-Nov-2010.