Amadeus reports first quarterly profit since the pandemic

Amadeus’ third-quarter revenue totaled 739 million euros (about $854 million), as travel restrictions eased across its key markets. 

Revenue was down 47% from 2019, before the Covid-19 pandemic. Still, as a result of the significant uptick in travel activity, Amadeus posted its first quarterly adjusted profit of 24 million euros (about $28 million) since the pandemic began.

Revenue in its air distribution division hit 300 million euros, down 58% from 2019.

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Amadeus’ number of travel agency bookings increased to 58 million, a 307% increase from 2020 and a 58% decrease from 2019. 

Amadeus president and CEO Luis Maroto said, “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.”

Source: PhocusWire

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