In a press release on Thursday, Air Mauritius published financial results for the first quarter that ended on June 30. The group and the company recorded losses of 11.2 million euro and 11.4 million euro respectively. For the corresponding period in 2010, losses recorded for both group and company stood at 11.4 million euro and [...]
In a press release on Thursday, Air Mauritius published financial results for the first quarter that ended on June 30.
The group and the company recorded losses of 11.2 million euro and 11.4 million euro respectively. For the corresponding period in 2010, losses recorded for both group and company stood at 11.4 million euro and 11.6 million euro respectively. The communiqué explained that 2011 is poised to become another challenging year for the
airline industry and the International.
The drop in profit forecast is attributed to the sharp rise in oil prices and the softening in demand for both passengers and freight, which is due to the deterioration of the economic conditions in major world markets.
Air Mauritius remains vulnerable to uncertainties in its traditional market and highly volatile price of fuel. Therefore, the company is expecting a highly challenging year ahead.
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