Air Mauritius (MK, Mauritius) expects to return to profitability by 2026-27 with full recovery projected for 2027, according to its chairman, Kremchand "Kishore" Beegoo.
Interviewed on Mauritius' Radio Plus, on the programme "Au cœur de l'info", he said he was "99.9% sure" the airline would break even next year and turn a profit the year after, citing a revamped business plan. "Our national airline will not be privatised,” he affirmed.
Acknowledging past missteps, Beegoo criticised the previous board for poor planning, especially around aircraft maintenance, attributing flight delays to extended maintenance in Italy and corrosion from planes grounded during the pandemic. "We’re paying the price now," he said, noting that the airline may have to lease a spare aircraft to stabilise operations.
Despite media criticism over staffing levels and potential conflicts of interest with his own company Cargotech, Beegoo denied any overstaffing and defended the legality of Cargotech’s dealings with the airline. "Our books are open," he said.
He warned that failing to implement reforms could cost Air Mauritius its Skytrax rating, but an internal audit showed recovery was possible with "hard work," he said.
As previously reported, Air Mauritius has engaged global advisory firm Kroll to investigate three major fleet-related transactions that took place during its voluntary administration period between 2020 and 2021. In a separate matter, the airline’s board has launched an internal investigation into an incident of engine damage that resulted in a financial penalty of USD8.45 million.
Air Mauritius posted losses of MUR1.22 billion rupees (USD27 million) from aircraft sales between 2017 and 2021, prompting Prime Minister Navin Ramgoolam to allege theft and promise a full investigation. The airline recorded cumulative losses of MUR7.72 billion (USD170 million) between 2015 and 2024.
