Mauritius · Business
Air Mauritius, the national airline, is back in profit and its owners’ equity is positive again, but its chief executive warns that favourable fuel prices and a strong euro may not last.
Air Mauritius, the island carrier, announced on Friday 30 October 2026 a profit of EUR 78.63 million (about US$88 million) for the financial year 2025/26. Its board of directors approved the audited annual accounts on Thursday 29 October 2026.
Shareholders’ equity, the value left for owners after debts, is positive again at EUR 26.0 million (about US$29 million). It had been in deficit since the Covid-19 pandemic.
Key Facts
- Who Air Mauritius, the island airline led by chief executive André Viljoen.
- Profit EUR 78.63 million (about US$88 million) for financial year 2025/26.
- Balance sheet Equity is positive again at EUR 26.0 million (about US$29 million) after a Covid-era deficit.
- Adjusted Profit excluding three accounting items was EUR 35.83 million (about US$40 million), as the acting Prime Minister’s figure.
What Air Mauritius Reported
The profit equals Rs 4.1 billion (Mauritian rupees, about US$87 million). The airline credits favourable fuel prices and a strong euro.
The company names three items that added to profit, without giving amounts. They are a remeasurement of provisions for aircraft return costs (the bill for handing leased planes back to lessors), revenue from expired Covid-era vouchers, and an unrealised currency gain (a paper gain from revaluing foreign-currency items).
Earlier results in the year were smaller, with a first-quarter profit of Rs 252.7 million (about US$5.4 million). The first-half profit was about Rs 1.1 billion (about US$23 million).
Why It Matters
Three accounting items and two outside forces, fuel prices and the euro, shaped this result, so the headline figure includes gains that may not repeat. Chief executive André Viljoen said: “Whilst the results give us hope, we cannot afford to relax.”
He said the company cannot count on the same euro exchange rate and fuel prices in 2026/27. Our guide to the Mauritius economy explains the sectors around the airline.
On Tuesday 10 November 2026, acting Prime Minister Arianne Navarre-Marie told Kaviraj Rookny, a member of parliament for the Pamplemousses and Triolet constituency, that profit without the three items was EUR 35.83 million (about US$40 million, roughly Rs 2 billion). She gave this in reply to a parliamentary question in the National Assembly, the parliament of Mauritius.
The three items were EUR 28.1 million for aircraft return provisions, EUR 7.6 million for expired vouchers and EUR 7.1 million for unrealised exchange gains, together EUR 42.8 million (about US$48 million). Taking that total from EUR 78.63 million leaves EUR 35.83 million.
She also said that no government loans have been granted to Air Mauritius and that earlier state guarantees have expired. We read her answer in national press coverage and could not open the parliamentary record, so the adjusted figure is the minister’s number, not the airline’s own.
What to Watch Next
We found no announced date for the airline’s next results. The chief executive says fuel prices and the euro rate will decide how the 2026/27 year compares.
The parliamentary record of Tuesday’s exchange, once published, would settle the exact wording of the adjusted figure. Readers can follow local prices in our Mauritius inflation report.
What Is Not Known
The airline itself has not published an adjusted profit, so the EUR 35.83 million figure rests on the acting Prime Minister’s answer. Amounts for the three contributing items are not in the airline’s own announcement.
Revenue and passenger numbers for the year are not part of the figures above. The outlook for 2026/27 beyond the chief executive’s caution is also unknown.
What It Means for You
For passengers, the results show a carrier back in profit with positive equity, though its chief executive says the conditions behind them may not repeat. See our guide to Mauritius politics for who answers to parliament on such questions.
The figures released show no direct link to US markets. The story matters mainly in Mauritius.
Frequently Asked Questions
How much profit did Air Mauritius make?
It reported a profit of EUR 78.63 million (about US$88 million) for the financial year 2025/26. The board approved the audited accounts on Thursday 29 October 2026.
What helped the profit?
The company names three accounting items: aircraft return provisions, expired Covid-era vouchers and an unrealised currency gain (a paper gain from revaluing foreign-currency items). It also credits favourable fuel prices and a strong euro.
What was the profit without those items?
The acting Prime Minister told parliament on 10 November 2026 that it was EUR 35.83 million (about US$40 million). That is her figure, not one published by the airline.
Will the result repeat next year?
The chief executive said the company cannot count on the same euro exchange rate and fuel prices in 2026/27. He added that it cannot afford to relax.
Sources: Air Mauritius press communiqué of 30 October 2026 (https://www.airmauritius.com/en/footer/newsroom/press-communique-30-oct-26-air-mauritius-reports-profit-for-the-financial-year-2025-2026); reported answer of the acting Prime Minister in the National Assembly of Mauritius, 10 November 2026.
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