Spain's Amadeus Shrinks Losses As Air Travel Takes Off

Madrid, (UrduPoint / Pakistan Point News - 30th Jul, 2021 ) :Amadeus, the world's biggest travel reservations company, posted a much-reduced second-quarter loss on Friday that was far lower than previous quarters thanks to a gradual increase in air traffic.

The company, which runs a reservations platform for airlines, travel agencies and internet booking sites, posted an adjusted quarterly loss of 24 million Euros ($28 million) compared with about 83 million euros in the first quarter.

Nearly 165 million passengers flew between April and June, making reservations through travel agencies using Madrid-based Amadeus' booking system, compared with 127 million in the first three months of 2021, a group statement said.

During the second quarter in 2020, when global bookings collapsed as the pandemic took hold, Amadeus posted losses of 231 million euros.

The company does not disclose its net income.

"Continuing the trend we saw in the first quarter, flight bookings and passenger numbers have gradually improved each month and picked up speed in June, which was the best month since the start of the pandemic," said Luis Maroto, president and CEO of Amadeus.

"Looking ahead, we are optimistic that as vaccination programmes progress, travel restrictions are lifted and traveller confidence continues to improve, this should translate into a more consistent and robust recovery over time," he said.

During the quarter, sales reached 625 million euros, 140 percent higher than in the same period in 2020, but less than half the figure for 2019 before the pandemic.

First-half adjusted losses for 2021 reached 107 million euros, compared to 89 million euros a year earlier.