November 6, 2008
Air Mauritius on Thursday reported an EUR11 million euro half-year loss due to high oil prices and falling demand.
The airline said passenger numbers between April and September this year fell to 596,587 from 613,304 during the same period last year.
The Indian Ocean island is a popular leisure destination but this year's spike in crude prices and the European economic slowdown have weighed heavily on its tourism industry.
"The company for its part made a loss of EUR11 million for the half year to 30 September 2008, compared to a profit of EUR2 million during the same period last year," said a company report issued by the Mauritius Stock Exchange.
"The company's operating revenue increased by 8.6 percent to EUR17 million," it said. "However, this increase was not enough to cover the increase in operating costs arising from a fuel bill which increased sharply by EUR32.1 million."
(Reuters)
Air Mauritius on Thursday reported an EUR11 million euro half-year loss due to high oil prices and falling demand.
The airline said passenger numbers between April and September this year fell to 596,587 from 613,304 during the same period last year.
The Indian Ocean island is a popular leisure destination but this year's spike in crude prices and the European economic slowdown have weighed heavily on its tourism industry.
"The company for its part made a loss of EUR11 million for the half year to 30 September 2008, compared to a profit of EUR2 million during the same period last year," said a company report issued by the Mauritius Stock Exchange.
"The company's operating revenue increased by 8.6 percent to EUR17 million," it said. "However, this increase was not enough to cover the increase in operating costs arising from a fuel bill which increased sharply by EUR32.1 million."
(Reuters)