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The following is the [Travel News]: Amadeus revenue contracted by 61.0% in 2020 from [ChinaTravelNews] recommended by TheTourAttraction.com:
Travel agency air bookings fell by 81.5%.
Amadeus said its revenue contracted by 61.0%, to €2,174.0 million. In Distribution, travel agency air bookings fell by 81.5%, to 107.6 million. In IT Solutions, passengers boarded declined 65.4%, to 690.6 million.
Luis Maroto, President & CEO of Amadeus, said the company carried out cost-saving measures that allowed it to save more than EUR 500 million.
R&D investment amounted to EUR 856.2 million in 2020, accounting for more than 39% of the company’s revenue last year.