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[Travel News]: Amadeus profit takes off in first quarter as air travel recovers

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The following is the [Travel News]: Amadeus profit takes off in first quarter as air travel recovers from [Skift] recommended by TheTourAttraction.com:

Amadeus said it processed almost 92 million bookings during the quarter, a little more than half the pre-pandemic levels.

Spanish travel booking group Amadeus on Friday reported an adjusted first-quarter net profit of 95 million euros ($99.97 million) compared with a loss in the same period a year ago as pandemic-related travel restrictions were mostly lifted.

Even though the spread of the COVID-19’s Omicron variant led to a new round of restrictions in late 2021 and early 2022, Amadeus said travel recovered quickly in February and March.

The company operates the world’s largest travel booking system and offers check-in services and other IT solutions for airports and airlines.

Amadeus said it processed almost 92 million bookings during the quarter, a little more than half the pre-pandemic levels. Overall revenues during the quarter of 917 million euros were about 65 percent of the revenues registered in the first quarter of 2019.

Net profit, including non-recurring effects, was 81 million euros in the quarter, up from a net loss of 95 million euros, the company said.

The company’s profit was slightly higher than the 79 million euros expected by analysts polled by Refinitiv.

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