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Air Mauritius reports 17.9% revenue increase; Comair to purchase eight B737-800s

Air Mauritius (2%) shares gained the most on Thursday (11-Nov-2010) and 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 period ended 31-Mar-2010.

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

The carrier stated: “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.”

See related CAPA profile: Financial results

Comair (0%) announced (11-Nov-2010) it obtained preliminary commitment from US Ex-Im Bank to finance purchase of eight B737-800 aircraft.

Selected African and Middle Eastern airlines share price movements: (% change): 11-Nov-2010