Air Mauritius reports 'slight improvement' in operating performance in Q2FY2020
Air Mauritius, via its official Facebook account, announced (14-Nov-2019) a "slight improvement of its operating performance" for Q2FY2020. The carrier stated conditions remain "challenging" and the company has taken "bold steps to review its economic model" during the year. Details include:
- The airline recorded a net negative result of EUR18.3 million for the quarter, including the impact of implementing IFRS16 accounting standards;
- Without the impact of IFRS16, losses would have been reduced from EUR2.8 million to EUR1.3 million;
- Costs decreased 6.4% to EUR132.1 million, mainly due to a reduction in fuel prices, better alignment of capacity to demand, cost reduction initiatives and the entry into service of more fuel efficient A330neo aircraft;
- Passenger numbers reached 449,327 at a load factor of 81.5%;
- Number of seats deployed increased "slightly" to 591,514, with a greater focus on short and medium haul;
- Steps taken in the airline's review include a network review and strengthening of commercial functions.
Air Mauritius stated the economic environment remains challenging in key markets due to political instability and subdued economies.