Air Mauritius: Financial highlights for the first quarter ended 30-Jun-2014
15-Aug-2014
Airline financial performance continued to improve during the quarter under review in spite of high oil prices averaging USD 110 per barrel. Global passenger traffic growth for the quarter ending 30 June 2014 has increased by 6% when compared to the same period of last year.
The first quarter is traditionally low season and loss making for the Group and the Company. The Group recorded a loss for the quarter ended 30 June 2014 of Euro 6.7 million and the Company Euro 6.9 million compared to losses of Euro 8.1 million and Euro 8.3 million respectively for the same period last year.
Total passengers carried during the quarter increased by 7.0% to 298,624 as compared to 279,109 passengers carried during the quarter ended 30 June 2013. The number of seats offered increased by 1.2% over the period. The operating revenue increased by 5.3% from Eur 99.0 million to Eur 104.3 million whereas the operating expenses increased by 2.6% to reach Eur 103.4 million for the Company.
As the result of the quarterly loss, the total Shareholders' Funds for the Company reduced from Euro 83.7 million as at 31 March 2014 to Euro 77.9 million as at 30 June 2014. However, the net assets per share increased from Euro 0.67 (Rs 26.89) as at 30 June 2013 to Euro 0.76 (Rs 31.33) as at 30 June 2014.
IATA forecasts continued improvement in passenger and cargo revenues worldwide. The Company however, continues to face increasing competition on major routes. Preventive and proactive measures are being taken by the Company to further improve its performance.
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