Air Mauritius moves into profit
Air Mauritius recorded a net profit of E15.4m (US$17.4m) for the year ended March 31, reversed from a net loss of E23.7m the previous year. Operating revenue for the period increased 5.4% to E488.3m year-over-year (YOY), while expenses fell 1.8% to E443.9m YOY. The company said the results would have been “significantly better” had it not been for the impact of a fuel hedging policy that cost it E26.6m following a series of contracts it entered into in 2014. Further headwinds came from a combination of the depreciation of the euro against the US dollar and deterioration in yields. Despite the hedge situation, however, lower oil prices had an overall positive impact on the carrier. Passenger numbers rose 9.4% to reach a record 1.5m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-06-16/unaligned/air-mauritius-moves-into-profit
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Air Mauritius moves into profit
Air Mauritius recorded a net profit of E15.4m (US$17.4m) for the year ended March 31, reversed from a net loss of E23.7m the previous year. Operating revenue for the period increased 5.4% to E488.3m year-over-year (YOY), while expenses fell 1.8% to E443.9m YOY. The company said the results would have been “significantly better” had it not been for the impact of a fuel hedging policy that cost it E26.6m following a series of contracts it entered into in 2014. Further headwinds came from a combination of the depreciation of the euro against the US dollar and deterioration in yields. Despite the hedge situation, however, lower oil prices had an overall positive impact on the carrier. Passenger numbers rose 9.4% to reach a record 1.5m. <br/>
