Bloomberg News

Air Mauritius Returns to Profits as Seat Capacity Climbs

June 16, 2011

(Updates with comment from company official in third paragraph.)

June 16 (Bloomberg) -- Air Mauritius Ltd., sub-Saharan Africa’s fourth-biggest airline, returned to profit for the year ending in March as seat capacity returned to levels seen before a global economic crisis hindered travel to the island.

Net income rose to 10.1 million euros ($14.3 million) from a loss of 6.2 million euros a year earlier, the Port Louis-based airline said in a statement handed to reporters today. It carried 14 percent more passengers during the period at 1.3 million, it said.

“These results have been obtained in spite of many challenges,” Andre Viljoen, the carrier’s officer in charge, told reporters. That includes higher fuel prices, natural disasters and a “challenging” economic recovery in Europe, the airline’s main market.

Air Mauritius stock snapped four days of gains, retreating 0.5 percent to 20.4 rupees by the 1:30 p.m. close in Port Louis.

--Editors: Emily Bowers, Karl Maier.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis at kbhuckory@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus