Compared to the previous financial year, when the airline showed a profit of over 10 million euros, the fortunes of Air Mauritius have reversed with the first 9 months of FY 2018/9 now showing a loss of over 25 million euros. Over the past years, Air Mauritius has managed to turn the previously loss-making national carrier around, but rising fuel prices and other market challenges have put a deep dent into the bottom line once again.
A year-on-year revenue rise of just 1.7 percent was not nearly enough to keep up with a whopping 16+ percent rise in cost. Passenger numbers rose by 4 percent to over 1.3 million during the period under review.
The airline’s CEO confirmed passenger numbers into Mauritius rising on an annual basis by an average of 5 percent but that new airlines flying to the island prevent Air Mauritius from taking full advantage of the added demand for seats.
Over the coming months does the airline expect to take delivery of two new Airbus A330s replacing two of the fuel guzzling A340s still on the fleet. Later in the year are two Airbus A350s due to join the fleet, again replacing the same number of A340s.