Air Mauritius posts Q1 net profit of US$2.3m

Air Mauritius reported a Q1 net income of E2m (US$2.6m), reversing a E9.8m loss in the year-ago period. “This represents the best [Q1] performance registered by the company in the last 10 years,” Air Mauritius stated. “This positive performance is due to the company’s efforts to improve efficiency at all levels. It is also the result of a reduction in operating costs, mainly due to the drop in fuel price, which fell from $61 to $44 per barrel, on average. However, the positive effect of this drop is mitigated by a fall of 5.6% in yield.” Air Mauritius said it is facing fierce competition from existing airlines as well as new “megacarriers” operating to Mauritius, forcing it to improve its commercial and operational efficiency. Revenue for the 3 months ended June 30 rose 2.7% to E109.4m, while expenses fell 10.2% to E98.5m. <br/>