Air Mauritius announced profits in its third fiscal quarter rose to EUR12.5 million, compared with EUR3.2 million in the previous corresponding period, as passenger and cargo traffic achieved double-digit growth. Shares in the company rose 3.2% in trading yesterday.
Passenger traffic at the carrier was up 15.4% year-on-year, while cargo traffic increased 10.2%. With the return in traffic revenue rose 23%, to EUR125 million in the quarter. Air Mauritius is reporting a strong outlook for the fourth quarter, although oil prices remain a concern.
Shares in 1time Holdings surged 6.1%. Comair, a key competitor in the South African market, announced plans to integrate turboprops into its operations, to be used on short-haul international routes from Johannesburg Lanseria.
Selected African and Middle Eastern airlines’ share price movements: (% change): 10-Feb-2011