Air Mauritius reports EUR7.7m profit in 4Q2019 with drop in fuel costs
Air Mauritius reported (13-Feb-2020) a EUR7.7 million profit for 4Q2019, with a 2.7% year-on-year increase in passenger numbers, a 2.9pp increase in load factor and a 2.9% increase in operating revenue to EUR139.1 million. Details include:
- 4Q2019: Passenger yield recorded a "marginal drop" of 0.3%. The results were positively impacted by unrealised foreign exchange gains. Operating expenses decreased 6.5% to EUR129.4 million, mainly due to a reduction in fuel costs.
- Nine months ended 31-Dec-2019: Passenger numbers decreased "marginally" by 0.1%, load factor improved to 81.1% and yield recorded a "slight drop" of 0.3%. Operating revenue increased "slightly" by 0.2% and operating expenses decreased 5.2%, mainly due to lower fuel prices and reduced operations.
The airline stated the airline industry and global economy are facing challenges, mainly due to the coronavirus outbreak in China. Air Mauritius has suspended all services to mainland China and Hong Kong, is reviewing its strategy and taking various measures to ensure its long term sustainability. [more - original PR - English/French]