Air Mauritius posts Q2 profit of 2.9 mln euros
PORT LOUIS, Nov 13 (Reuters) - Air Mauritius AIMK.MZ swung to a second-quarter net profit of 2.9 million euros, from a loss of 2.6 million euros in the same period last year, thanks mostly to efficiency measures.
The palm-fringed Indian Ocean island is a popular high-end holiday destination, but the economic slowdown in key markets has weighed heavily on its tourism sector.
The national airline said total passengers carried during the quarter fell by 16 percent, in line with global trends. But it said it had still been able to post encouraging results.
"The financial situation of the Group and the Company continued to improved with the positive outcome of various measures implemented by management to stimulate revenue, match flights and capacities to the declining demand, improve efficiencies and reduce costs," it said in a statement.
The island, which is best known for its turquoise waters and luxury spas and resorts, suffered as the global contraction buffeted its core European markets.
Air Mauritius has said its performance over the rest of its April-March financial year will depend on the strength, or absence, of a worldwide economic recovery. (Reporting by Jean Paul Arouff; Editing by Daniel Wallis and Simon Jessop)
