Air Mauritius Net Profits shot up by an impressive 67% to 27.6 million euros for the financial period ending 31 March 2017 compared to 16.5 million euros posted in the previous financial year. The Airline has made a commendable recovery from a loss of 23.6 million euros made in 2015.
The Group’s Revenues increased by 1.4% to 497.8 million euros in 2017 compared to 490.8 million euros in 2016. The revenue increase was attributed to a 6.9% increase in passenger numbers to reach a record level of 1.6 million. The number of seats offered increased by 6.1% and the Passenger Load Factor increased from 78.7% to 79.6%.
The low cost of fuel and stable euro-dollar exchange rate also made a contribution to the bottom-line.
Notable shareholders in the Airline include Air France and Air India who hold a minority stake of 2.78% and 2.56% respectively.
Going forward the company is embarking on a major fleet modernization initiative. The first two A350-900 will join the fleet in October 2017 and November 2017 whilst major cabin renovations will be carried out on the six existing aircraft during January to June 2018 to position itself amidst growing competition.
Source: Air Mauritius