Air Mauritius has reported a full-year net loss of US$36.5 million for 2011-12, blaming a "stagnant airline industry in general and a slowdown in tourism in Mauritius—reflecting problems in Europe in particular."
The airline cited rising fuel costs for the greatest impact on operating costs.
The losses came when the airline reported carrying a record number of passengers and strong operating revenue.
Despite "tough and growing competition," MK flew more than 1.3 million passengers, up 2.3% on the previous year—an all-time high for the airline.
However, passenger load factor for 2011-12 was down to 77.1% from 79.8% in 2010-11, and a high of 80.6% in 2009-10.
At the end of May, the carrier suspended flights to Milan, Sydney and Melbourne, with Frankfurt and Geneva following at the end of August, and Durban at the end of October.
