02 September 2025
AIR MAURITIUS LIMITED – FINANCIAL RESULTS APRIL 2025 – JUNE 2025
Dear Colleagues,
I have received numerous queries from employees and stakeholders expressing concerns over allegations in a press conference that the reported profit of MUR 252.7million (EUR 4.9 million) for the first quarter of Company’s Financial Year 2025-26 (April to June 2025) may have been cooked and does not reflect reality.
I would like to unequivocally put matters right.
Air Mauritius Limited is a Public Interest Entity and is subject to stricter Corporate Governance and Financial Reporting Standards, such as the National Code of Corporate Governance and the International Financial Reporting Standards (IFRS), to enhance credibility and protect stakeholders. In that respect, the Company follows rigorous procedures and processes, with in-built checks and balances, to ensure the integrity of its financial reports.
On 14 August 2025, the Board of Air Mauritius Limited reviewed and approved the first quarter results (April to June 2025) of the Company, i.e., a profit of MUR 252.7 million (EUR 4.9 million) as compared to a loss of MUR 611.8million (EUR 12.4 million) for the same quarter (April to June 2024) of the previous Financial Year 2024-25. Based on cost and revenue estimates, the recovery trend witnessed during the first quarter (April to June 2025) is expected to continue during the second quarter (July to September 2025), confirming that the rigorous measures we have implemented have put us back on the right track.
If there are any doubts on the integrity of our financial statement, I would welcome the majority shareholder of Air Mauritius to send its team of auditors to verify the latter.
It is worth noting that The Financial Statements for the past Financial Year i.e 2024-25 (April 2024 to March 2025) are currently being audited by KPMG, and you will, in due course, take cognizance of the financial performance which was under the purview of the previous Board/ Management.
It is deplorable that at a time when the Company is engaging discussions of critical importance with Airbus, Lessors and other stakeholders to resolve the inherited fleet of three A350 direct orders which are not required by us and for which we are negotiating long term solutions such as sale/ deferral/swapping of aircraft types that prominent persons make such declarations that cast doubts on the integrity of our Financial Statements and cause reputational damage beyond imagination.
As advised before, the three A350 direct orders made by the previous Board (on which Kroll is investigating) have already entailed and will continue to entail significant payments obligations; the next one being in October and November 2025 for which we require the financial support of our Holding company, AHL. Numerous meetings have been and are still being held with MIC/ Govt /AHL/MK to resolve this situation which has been inherited from the previous board / Government. We have assurance from the Government that swift decisions will be made to ensure the future of the Company.
We shall be holding our next questions/answers meetings starting at Head Office on Thursday 04 September and at the Airport next week.
Kind regards,
Kishore Beegoo
Chairman
