For the quarter ended on September 30, 2017, the Group and the Company recorded profits of 11.8 million euros and 11.6 million euros respectively. For the corresponding quarter of 2016, the Group and the Company had recorded profits of 13.8 million euros and 13.6 million euros respectively.

Total passengers carried during the quarter increased by 2.5% to 426,910 as compared to 416,485 passengers carried during the quarter ended on September 30, 2016. The number of seats offered increased by 5.6% and the passenger load factor decreased from 83.7% to 80.7%. The passenger yield also witnessed a drop of 4.3%. The operating revenue of the Company increased by 1.5% from 133.9 million euros to 135.9 million euros.

Despite an increase in the level of operation by nearly 4%, the increase in operating expenses was contained to 0.8%.

Air Mauritius Group and Company results for the half year ended on September 30, 2017

For the half year ended on September 30, 2017, the Group and the Company posted profits of 6.6 million euros and 6.3 million euros respectively. For the corresponding period last year, the Group and the Company had recorded profits of 15.9 million euros and 15.5 million euros respectively.

The number of passengers carried went up by 6.6% to reach 810,239 as compared to 759,957 during the half year ended September 30, 2016. Seat capacity increased by 7.0% from 1,007,896 to 1,078,297, resulting in the passenger load factor marginally decreasing from 80.6% to 79.3% mainly due to an increase in capacity. In addition, cargo activities continue to show the encouraging result with an increase in tonnage of 27.5%.

Operating revenue of the Company went up by 3.5% to reach 251.8 million euros whereas operating expenses increased by 4.3% from 214.6 million euros to 223.8 million euros mainly on account of the growth in our operations and higher fuel cost.

The half-year results have also been impacted by the EUR/USD exchange rate which increased from 1.07 on April 1, 2017, to 1.18 on  September 30, 2017. The continued appreciation of the Euro against the USD over that period resulted in a positive impact of 4 million euros on the operating profit. However, when re-translating of monetary assets and liabilities on September 30, 2017, unrealized exchange loss of 7.5 million euros has had to be accounted in the Statement of Profit or Loss.

Total Shareholders' Funds for the Company increased from 91.2 million euros as of March 31, 2017, to 96.2 million euros as of September 30, 2017. The resulting net assets per share as on September 30, 2017, was 0.94 euros as compared to 0.89 euros as on  March 31, 2017.

According to the report, the prevailing fuel prices will impact the results of the Company.

“Any movement on the EUR/USD exchange rate will influence our full year results,” Air Mauritius stated.  “With the arrival of new players and fiercer competition on the various routes, the Company anticipates a very challenging second semester. ”

However, according to the statement,  the operation of two brand new A350s, one of which was delivered in October 2017, and the second one earmarked for delivery by end of November 2017, will enhance the customer experience and boost traffic and contain the operational costs.