Feeling the PINCH
Well, it seems the rest of the world has finally caught up with AIR MAURITIUS, and has ended up being a smack in the face with a wet fish in the GLASS TOWER!
Rumour has it that they "hedged" their fuel price per barrel on the wrong side of the drag curve ( who would have thought it to be priced where it is now?) causing the numbers to be rather large in the wrong column of the accounting manual :-)
This I believe has caused the pending resignation of the CHAIRMAN of the BOARD, as well as the MD...or GM....not sure about the latter?
Also, I believe, they will not be renewing the present lease on NAU ( one of the older A340`s)....and there will be a rotation of the other 340`s for a "C Check"....in effect taking TWO 340`s off the schedule for the forseeable future!
Up until recently, there was no real threat of EXPATS "NOT" having their contracts renewed, unless you annoyed one of the locals....but now ??????
Interesting times....!!!!