Air Mauritius has returned to the black, with the national carrier of the Indian Island destination reporting €8.6 million in net profit for the year to March 31st earlier.
This compares to a pre-tax loss of €2.3 for the previous financial year.
Turnover for the period was €459 million euro, a two per cent increase compared to the same period last year, according to a communiqué published in Port-Louis.
Andre Viljoen, chief executive, Air Mauritius, told Breaking Travel News: “Much has been covered in the journey to restore profitability and ensure the long term sustainability of the business.
“The positive bottom line of €7.3 million posted for the financial year under review constitutes an improvement of €36.5 million over the two years.
“However, the operating environment remains volatile.
“We also have to remain completely focused on our medium and long term objectives.”
Viljoen added: “I know I can rely on the support of all our stakeholders.
“I wish to reiterate my gratitude to all those who have contributed to the huge effort made during the past two years: our major shareholder, the government of Mauritius, our chairman and board directors, our shareholders, our employees, our valued customers, our trade partners and the Mauritian public.”
The turnaround came after the airline cut routes to some destinations in Europe such as Milan and Frankfurt and added more services on routes showing potential growth in Asia, Australia and Africa.
That helped lift its passenger numbers to a record 1.33 million in the year through March, the company said, but did not give a comparative figure for the previous year.
Mauritius is a popular holiday destination, famous for its azure waters, white sandy beaches and luxury spas, but the European economic slowdown has weighed heavily on tourism.
The carrier is also considered the Indian Ocean’s Leading Airline by the World Travel Awards.