Air Mauritius reacts to media reports on financial discrepancies

AIRLINE HITS BACK AT MEDIA OVER NEGATIVE REPORTING

(Posted 01st March 2017)

Air Mauritius

Following media reports of financial discrepancies in the company’s balance sheets has Air Mauritius come out swinging, rejecting any of the allegations made as inaccurate and false.
Said a company statement received overnight:

Start quote

Following reports that appeared in the press recently, Air Mauritius wishes to reassure its Shareholders and the public at large that there is no discrepancy in its Financial Statements. Air Mauritius is a public listed company on the Stock Exchange of Mauritius. It carries out its operations with high integrity and its Financial Statements are prepared in accordance with the International Financial Reporting Standards. They comply with the Companies Act 2001 and the Financial Reporting Act 2004. The company has only one accounting system, the Oracle Financial which is an Enterprise Resource Planning (ERP) Software, used to produce its Financial Statements. The Company’s Financial Statements are audited by two external auditors and published according to the regulatory provisions of the Stock Exchange of Mauritius. Annual Reports are circulated among all Shareholders and the most recent Company Financial Statements are also available on the website of the Stock Exchange of Mauritius as well as on the website of the company. Air Mauritius also provides all explanations on its Financial Statements to Shareholders at its Annual Meetings.
End quote

Air Mauritius has been experiencing a roller coaster ride over the past decade with profits and losses making way for each other, with management changes galore and a rigorous route and cost cutting exercise which has finally yielded results when the airline turned profitable again over the past year.

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