Spain’s Amadeus stays cautiously optimistic about recovery

1 min read
FILE PHOTO: The logo of Amadeus can be seen in Madrid, Spain

– Spanish travel booking group Amadeus posted on Friday a second consecutive profitable quarter since the start of the coronavirus pandemic, helped by stronger demand as travel curbs were partly phased out.

The world’s biggest provider of travel booking services said it has seen steady volume growth throughout 2021, with the number of travellers improving, especially in Western Europe and the Asia-Pacific, but still far below pre-pandemic levels.

“Looking at the year ahead, we remain cautiously optimistic about the recovery in travel,” Chief Executive Luis Maroto said in a statement.

The group booked adjusted net profit of 38.2 million euros ($42.77 million) in the period from October to December, up from 23.8 million reported in the third quarter, and swinging from a loss of 88.2 million a year ago.

Analysts polled by Refinitiv expected a quarterly net profit of 47.9 million euros.

Amadeus booked an annual net loss of 44.7 million euros, as the improved second-half situation did not offset the ravages of the first six months.

($1=0.8932 euros)

(Reporting by Aida Pelaez-Fernandez in Gdansk; Editing by Inti Landauro and Clarence Fernandez)