19-Aug-2019 2:58 PM
Air Mauritius reduces net loss in Q1FY2020, finalising new business model
Air Mauritius, via its official Facebook account, reported (14-Aug-2019) improved financial results with a net loss of EUR4.1 million in Q1FY2019/2020, ended 30-Jun-2019, compared to a net loss of EUR14.9 million in Q1FY2018/2019. Load factor increased from 78% to 80.2%, revenues decreased 2.3% year-on-year and costs decreased 7.3%. The airline noted the first quarter of the financial year coincides with the low tourism season. The carrier is finalising a new business model based on an improved network and fleet.