Mauritius | Infrastructure

June 20, 2011

Air Mauritius nets Rs 380 m profits during 2010-11

In 2009-2010, the airline recoded a loss of Rs 282 million.

The national carrier, Air Mauritius, has recorded net profits worth 9.3 million euro which equals around Rs 380 million. This is for the financial year 2010-11.

It must be noted that in 2009-2010, the airline recoded a loss of Rs 282 million.

The results were announced by André Viljoen, executive vice president of the commercial and communications division, at Air Mauritius building in Port Louis on Tuesday.

Viljoen attributed the company’s profits to proactive measures taken by the national airline to stimulate revenue, modulate capacity to demand and improve efficiency.
The company increased the number of passengers for this year to 1,295,235 as compared to 1,133,342 passengers for the previous year. This represented a 14.3 per cent increase.

He added that the financial year 2010-11 has been complex and challenging. On the one hand, the economic environment improved partially and on the other hand, a series of events that adversely affected the industry took place.

“During the start of the financial year, airline operations were affected by the five day closure of European air space following the Icelandic volcano eruption. In
December, severe snowstorms in Europe caused major disruptions. There were natural disasters in Japan as well as unrest in the Middle East and North Africa. Moreover, the sustained increase in oil prices continued to slash the projected industry profit,” said Viljoen.

Viljoen added that company also recorded positive operational results of 14.3 million euro.

Shareholder funds reached 119 million euro on March 31, 2011 which is an improvement of 13.8 million euro compared to last year.

Kamal Taposeea, the chairman of the board of directors said that this year the company has made remarkable profits in 2010-2011. Hence dividends will be paid from the end of July

Text by the Independent
 

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