Air Mauritius records EUR24m loss in FY2015 due to foreign exchange and fuel hedging costs

Air Mauritius reported (18-Jun-2015) a loss of EUR23.7 million for FY2014/15, down from an EUR7.3 million profit in FY2013/14. The airline attributed the result to depreciation of the euro, strong competition, losses on hedging 40% of its fuel requirements, low load factor on China routes and increased costs, particularly staff costs. Overall load factor decreased from 75.5% to 73.7%. The carrier recorded a negative foreign exchange impact of EUR25.6 million and fuel hedging losses of EUR10.1 million. The airline reported growth in revenue to EUR463.1 million, passenger traffic to 1.37 million and capacity to 1.95 million seats. [more - original PR - French]