Annual Report 2014-2015


Air Mauritius Group and Company results

The first quarter is traditionally low season and loss making for the Group and the Company. The Group recorded a loss for the quarter ended 30 June 2015 of Euro 9.7 million and the Company Euro 9.8 million compared to losses of Euro 6.7 million and Euro 6.9 million respectively for the same period last year.

Total passengers carried during the quarter increased by 5.5% to 315,098 as compared to 298,624 passengers carried during the quarter ended 30 June 2014. The number of seats offered increased by 3.0% and the Passenger Load Factor increased from 72.1% to 75.1%. The operating revenue increased by 2.1% from Eur 104.3 million to Eur 106.5 million whereas the operating expenses increased by 6.1% to reach Eur 109.8 million mainly on account of a weaker Euro.

The results for the quarter under review have been impacted by the depreciation of the Euro, when compared to the same period of last year. The average EUR/USD rate for the quarter under review stood at 1.11 as compared to 1.37 for the quarter April 14-June 14.

Abridged Statements

Shareholders' Funds

Total Shareholders’ Funds for the Company decreased from Eur 42.9 million as at 31 March 2015 to Eur 40.8 million as at 30 June 2015. The resulting net assets per share as at 30 June 2015 was Eur 0.40 (Rs 15.73) as compared to Eur 0.42 (Rs 16.48) as at 31 March 2015. The drop in the Shareholders’ Funds is mainly attributable to the loss for the period which has been partly mitigated by a positive movement in cash flow hedges.


The Company is taking various initiatives to boost traffic on its network and to reduce its cost base which are starting to yield some positive results. In spite of the challenging environment and fiercer competition in our major markets, the Company is committed to improve its financial performance for this year.