Port-Louis, Mauritius (PANA) - The Mauritian national airline, Air Mauritius, generated profits of 16.5 million euro for the financial year 2015/16 contrasting with a loss of 23.7 million euro for the previous financial year 2014/15.
In a communiqué released on Friday, the airline said it carried a record number of 1,499,411 passengers on more than 12,600 flights operated during the period.
"With this 9.4% growth in passengers, the load factor increased by 5% to reach 78.7% generating a revenue of 488.3 million euro while operating costs decreased by 1.8% to 433.9 million euro resulting in a gross profit of 44.4 million euro compared with 10.9 million euro in the previous year," it stated.
According to Air Mauritius, the fall of oil prices, from an annual average of US$99 to US$55 per barrel, was the main factor contributing to this positive result "although various measures taken to improve business efficiency also had an impact".
The airline's CEO Megh Pillay stated that prospects for further growth were positive, with price of oil remaining stable, and demand for travel picking up in the traditional markets.
"Air Mauritius will continue to optimize its network, revamp marketing efforts on its traditional markets, expanding its footprint on new destinations in China and Africa and intensify cooperation with regional carriers," he said.
Mr Pillay emphasized the ongoing efforts to enhance shareholders value, and make optimal use of its existing human capital to grow the business in an increasingly competitive and demanding environment.
-0- PANA NA/MA 22July2016