Air Mauritius Aims for Profitability by 2026–27 Fiscal Year

Air Mauritius expects to return to profitability by the 2026–27 fiscal year, with full recovery projected by 2027, according to Chairman Kremchand “Kishore” Beegoo. Speaking on Mauritius’ Radio Plus program “Au cœur de l’info,” Beegoo expressed strong confidence in the airline’s turnaround, stating he was “99.9% sure” the company would break even next year, supported by a restructured business plan.

Beegoo dismissed any speculation about privatization, asserting the airline would remain under national control. He attributed recent operational challenges, including flight delays, to long-standing maintenance issues and aircraft corrosion resulting from pandemic-era groundings. He noted that additional aircraft may be leased to stabilize schedules.

Responding to media scrutiny, Beegoo denied claims of overstaffing and defended the legality of Cargotech, his private firm’s transactions with Air Mauritius. “Our books are open,” he said, maintaining transparency.

Beegoo emphasized the urgency of implementing reforms to avoid losing the airline’s Skytrax rating, noting that internal audits show recovery is achievable with decisive action.

To improve financial governance, Air Mauritius has hired international advisory firm Kroll to investigate three fleet-related transactions made during the airline’s voluntary administration in 2020–21. Separately, an internal inquiry is underway into engine damage that resulted in an USD8.45 million penalty.

The airline reported MUR1.22 billion (USD27 million) in losses from aircraft sales between 2017 and 2021, and cumulative losses of MUR7.72 billion (USD170 million) from 2015 to 2024. These figures have drawn political scrutiny, with Prime Minister Navin Ramgoolam calling for a full investigation into the financial irregularities.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com