Air Mauritius Group and Company results for the Quarter ended 30 September 2014
For the quarter ended 30 September 2014, the Group and the Company recorded profits of Eur 0.5 million and Eur 0.6 million respectively. For the corresponding quarter of last year, the Group and the Company had recorded profits of Eur 5.0 million and Eur 4.9 million respectively.
The result of the quarter under review has been significantly affected by the depreciation of Euro. The Euro/USD parity moved from 1.36 in July 2014 to 1.27 at the end of September 2014 resulting in a loss on exchange on revaluation of monetary assets and liabilities of Euro 2.2 million as compared to a gain of Euro 1.9 million for the corresponding quarter of last year. The resulting net swing of Euro 4.1 million is largely accountable for the reduction in profitability.
A second direct weekly flight to Beijing was launched in July 2014 in addition to the three weekly direct flights to Shanghai in operation since January 2014. Our operations to mainland China have not yielded the expected result showing significant drop in the passenger load factor when compared to the corresponding quarter of last year.
Total passengers carried during the quarter increased by 0.8% to 342,323 as compared to 339,688 passengers carried during the quarter ended 30 September 2013. The Available Seat Kilometres (ASK) went up by 3.3% whilst the passenger load factor dropped from 77.1% to 74.3% when compared to the corresponding quarter of last year. Operating revenue increased from Eur 118.4 million to Eur 124.8 million whereas operating expenses went up by Eur 7.0 million to reach Eur 115.6 million.