Air Mauritius shares soar on revised profit outlook

Air Mauritius forecasts improved results for the quarter to Dec-2010 (FY3Q2011), reflecting improving passenger traffic.

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