Air Mauritius Group and Company have posted their results for Q1 of their 2013/2014 Financial Year which ended 30 June 2013 with losses of EUR8.1million (USD10.83million) and EUR8.3million (USD11.1million) respectively. Despite the red, the figures are an improvement on the same period for its previous financial year in which it posted losses of EUR10.2 million and EUR10.4 million respectively.
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In a statement, Air Mauritius claimed the first quarter, traditionally a low season and a loss maker for the Group and the Company, had been affected by global economic performance and oil prices which contributed to the difficult business climate.
Air Mauritius Company Q1 2013/14 Financial Results Summarized:
- Figures For Q1 2013 (% Change on Q1 2012)
- Net Results: - €8.3million (+20%)
- Operating Revenue: €99.9million (-5.2%)
- Operating Overheads & Costs: €100.8million (-7.0%)
- Number of Passengers Carried: 279,180 (-4.5%)
- Load Factor: 73.8% (-1.1%)
Source [Air Mauritius]
The Indian Ocean carrier maintains that despite the loss, the results of the first quarter are in line with its budget and that it is still on track to achieve performance targets for the financial year ending 31 March 2014.