Port-Louis, Mauritius (PANA) – Mauritian airlines, Air Mauritius, on Tuesday announced losses of up to 20.9 million euros for the first nine months of the current financial year, as against profits amounting to 5.3 million euros for the first nine months of the preceding year.
In a statement, the company declared that the loss was essentially due to the increase in oil prices.
"Our bill represents an additional cost of nearly 12.5 million euros in the third quarter, compared to the same quarter in the preceding year. Over the first nine months of this year, the additional cost of fuel alone was about 37 million euros," the company declared.
The deputy executive director of the company, André Viljoën, declared that Air Mauritius had decided to refocus on all its air services before a rescue plan that would include reforms.
"The objective is to revert the trend and come back making profits from the 2012/2013 financial year", he affirmed, adding that the company would eliminate non-profitable routes and services.
-0- PANA NA/TBM/IBA/MTD/VAO 14Feb2012