Air Austral's Supervisory Board met today to review the company's accounts for the past financial year (ending on March 31st2014).Given the economic difficulties and the strong downward of the tourism industry around the Indian Ocean area, the financial year ending on March 31, 2014 was marked by returning to profitability, the improvement of the company's financial health and by recovering momentum.
The following points should be noted:
• Successful implementation of the Business Plan established in 2012 to turn the company around, set up by the new management team after the economic and financial difficulties previously experienced.
• Strengthening of the company's strategic positioning as "leading company in the Indian Ocean", especially with the launch of Ewa Air (a subsidiary of Air Austral), the first airline based in Dzaoudzi, Mayotte which operates 6 directs flights in the Mozambique Channel region.
• Optimization of the long haul aircrafts utilization through a diversification of the company's activity in the charter business, which generate a complementary turnover.
• Despite an in-depth modification to the flight schedule, the employees' commitment and awareness has enabled to maintain a high-quality in-flight service, which is already greatly appreciated, while improving the ground service, with the opening of new airport lounges and a punctuality rate over the financial year improved significantly at 82%.
• The company has already revitalized its commercial offer with the establishment of regular and competitive promotional offers (Prix Plume – Vendredi Gadiamb), as well as the implementation of new products (reinforcement of the loyalty program, launch of a new any-destination membership card etc.)
Outlooks for the 2014 – 2015 financial year
After an excellent operating performance in 2013/14, Air Austral intends to continue to execute its business plan in 2014/15 and strengthen its position as a leading airline in the Indian Ocean. To achieve this aim and to ensure a sustainable operating performance, Air Austral has adopted a clear three-fold strategy.
• Enhance the quality of execution and renew financial performance: strict regular monitoring of service standards and operating performance coupled with rigorous financial management.
• Strengthen the partnership strategy: accelerate all possible forms of cooperation with partner airlines whenever it makes economic sense in the Indian Ocean region and beyond, in order to offer our customers even more reasons to choose Air Austral.
• Accelerate the momentum for change through proactive actions in terms of image and products: launch of the new image of the company in the third quarter of 2014 which also incorporates innovations in terms of products and boosts commercial offers through a more refined segmentation of the tenders.
"According to plan for two years now, we would like to congratulate the company on returning to profitability, despite the context of economic stagnation. Less than two years after launching its recovery plan, we are happy to be back to profitability. The financial year 2013/14 was the second year of Air Austral's business plan, set up and implemented as part of the company's recovery plan. During this financial year, we have carried on our efforts in order to successfully execute this plan and a proactive and rigorous strategy, based on a review of our capacity offer to our passengers, while paying particular attention to our cost structure. As planned, we have achieved our return to profitability. I am proud of the work we have accomplished together and I would like to thank the all staff of Air Austral for their commitment to achieve this goal. A major step has been completed for the company “ declared Marie-Joseph Malé, CEO of Air Austral.
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