Air Mauritius revenue down 17% in FY2010

Air Mauritius reports the following financial highlights for the 12 months ended 31-Mar-2010:

• Revenue: EUR371.7 million, -16.6% year-on-year;
• Operating costs: EUR346.8 million, -24.6%;
  • Fuel hedge losses: EUR33.7 million, -32.2%;
• Operating profit EUR7.7 million, compared with a loss of EUR33.5 million in p-c-p;
• Net profit (loss): (EUR6.2 million), compared with a loss of EUR85.7 million in p-c-p. [more]

Air Mauritius: "Although IATA forecasts an improvement in passenger and cargo revenues, Air Mauritius remains vulnerable both to the crisis within the Euro zone and the mismatch due to our costs being mostly USD denominated and our revenue mainly in Euro. Taking into account these factors, the company is strengthening its presence within the Regional, African and Asian markets by increasing its seat capacity by 15%. Moreover, steps are continuously being taken to improve passenger yields and contain costs. In the light of these circumstances, the Company remains cautiously optimistic for the coming year," Company statement. Source: Air Mauritius, 17-Jun-2010.