13-Jan-2011 2:10 PM
Air Mauritius shares soar on revised profit outlook
Analysis
Air Mauritius forecasts improved results for the quarter to Dec-2010 (FY3Q2011), reflecting improving passenger traffic.
Summary
- Air Mauritius expects improved results for the quarter to Dec-2010, driven by increasing passenger traffic.
- Passenger traffic for Air Mauritius in Dec-2010 increased by 11.5% compared to the previous year.
- Air Mauritius forecasts a 15% overall increase in passenger traffic for the fiscal year third quarter.
- Air Mauritius reported a EUR3.3 million profit for the same quarter in 2009.
- Shares in Air Mauritius rose by 7.1% in trading on Wednesday.
- Shares in Comair South Africa also rose by 3.9% after a recent decline, while Air Arabia's stock traded down by 1.1%.
The carrier reported passenger traffic in Dec-2010 increased 11.5% year-on-year, to 145,000. Air Mauritius expects an overall 15% increase in passenger traffic in the fiscal year third quarter. Air Mauritius reported a EUR3.3 million for the same quarter in 2009. Shares in Air Mauritius rose 7.1% in trading on Wednesday.
Elsewhere, shares in Comair South Africa rose 3.9%. Shares in the carrier have rallied this week, after falling through early 2011.
Air Arabia's stock traded down 1.1% on Wednesday.
Selected African and Middle Eastern airlines' share price movements: (% change): 12-Jan-2011
