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Mauritius: The net benefits of Air Mauritius for the second quarter significantly impacted by the depreciation of the euro against the dollar

The airline company Air Mauritius recorded a drop of 89.8% in net profits for the second quarter ending on September 30, with 19.8 million rupees * registered against 198 million for the same calendar period of 2013.
A depreciation at the level of euro in the wake of the euro-dollar parity, which rose from 1.36 in July 2014 to 1.27 at the end of September 2014 is at the origin of this significant deficit, a loss 87 million rupees especially in relation with the reassessment of monetary assets and liabilities of the company, as indicated by the newspaper L'Express of Mauritius.
According to the management of Air Mauritius, the depreciation of the euro should continue to negatively impact the financial performance of the company and only a drop in fuel prices could reduce the direct consequence of the depreciation of the euro.
On the other hand, the second weekly flight to Beijing opened this past July and three flights a week to China operated since the beginning of 2014 did not achieve the expected results.
* One euro roughly equivalent to 41 rupees

Zahirah Mungly

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