Air Mauritius slashes losses

London
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Air Mauritius slashed its operating loss nearly 90% to €3.6 million ($4.7 million) in the year ending 31 March, as a restructuring plan reaped rewards.

While revenues were virtually unchanged at €451 million, the airline cut nearly €20 million from operating costs, which totalled €431 million. It also suspended loss-making flights while adding additional frequencies on profitable routes. Revenue passenger-kilometres rose 14%, and load factor climbed 1.8 percentage points to 78.9%.

Air Mauritius is halfway through a two-year recovery plan, and predicts it will be profitable by the end of the current financial year.