► MAURITIUS: Despite record passenger numbers, Air Mauritius still in the red for Q1 2012.

Despite having increased passenger numbers by 7.4 % on Q1 2011 to 292'449, persistently high global oil prices coupled with the Eurozone crisis have eaten away at Air Mauritius' (MK) profits for the first quarter of the 2012 Financial Year. Overall the company posted a net loss of €10.4million - a 12% improvement on the airlines' performance in 2011 - which it claims, would have been significantly less at just €2.4million had it not been for a weaker Euro/US Dollar exchange rate.