Air Mauritius Group and Company results for the Quarter ended 31 December 2014
For the quarter ended 31 December 2014, the Group and the Company recorded losses of Eur 2.5 million and Eur 2.7 million respectively as compared to profits of Eur 8.8 million and Eur 8.6 million for the comparative period of last year. The losses incurred have been mainly due to the depreciation of the Euro and drop in revenue on account of fiercer competition.
Total passengers carried during the quarter increased by 0.5% to 375,156 as compared to 373,110 passengers carried during the quarter ended 31 December 2013. The Available Seat Kilometres (ASK) went up by 5.4% whilst the passenger load factor dropped from 77.5% to 73.1% when compared to the corresponding quarter of last year. As such, revenue decreased from Eur 128.0 million to Eur 123.7 million whereas operating expenses went up by Eur 2.9 million to reach Eur 116.9 million mainly on account of the depreciation of the Euro and increased operations.
The result of the quarter under review has been significantly affected by the depreciation of the Euro. When compared to the quarter ended 31 December 2013, the net negative impact of the depreciation of the Euro has been Eur 8.2M.
During the quarter under review, the Company operated 5 direct weekly flights to mainland China (Shanghai:3 /Beijing:2) as compared to only 3 direct weekly frequencies during the quarter ended 31 December 2013. However, operations to mainland China have not yielded the expected result showing significant drop in the passenger load factor from 78.6% to only 52.6% when compared to the corresponding quarter of last year.