Monday, May 20, 2024

Amadeus revenues up 77pc, secures first profit post pandemic

Amadeus found itself with a total revenue figure of €739 million in the third quarter of 2021, as travel restrictions eased across its key markets.

The jump of 77 per cent year-over-year masks what is still a 47 per cent lag behind revenues achieved in the corresponding quarter in 2019, before the COVID-19 pandemic.

Still, as a result of the significant uptick in travel activity in the July to September timeframe, Amadeus posted its first quarterly profit of €24 million.

The same period in 2020 saw the Spain-based company post a €125 million loss.

Revenues in its air distribution division hit $300 million, an increase of 213 per cent year-over-year but still down 58 per cent against Q3 2019. IT solutions revenue is up 47 per cent to €295 million and hospitality services are up 18 per cent to €144 million.

The number of travel agency bookings through the GDS increased by a massive 307 per cent year-over-year to 58 million and passengers boarded climbed by 96 per cent to 271 million over the same period.

Amadeus president and CEO, Luis Maroto, says: “During the third quarter, we continued to see progress in volume performance, with positive trends in both air bookings and passengers boarded, across all regions.

“This also extends to our Hospitality segment, with performance improvements across our entire portfolio, and more notably in revenue lines driven by transactions, such as reservations, bookings and media clicks.

“Looking at the rest of the year, we are confident that our commercial momentum, along with the upward trend in travel volumes, will allow us to maintain this positive progression towards recovery.”

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