Air Tickets Sold Through Amadeus in Second Quarter Down 24% Against 2019
Business travel approaches 2019 levels >>
by: Harvey Chipkin
The number of air tickets processed by Amadeus was down 24% in the second quarter against the same period in 2019, according to the company’s second quarter earnings report. However, bookings in North America were higher than pre-pandemic levels. Overall, the travel technology firm reported a second quarter net profit as the recovery of the travel industry continued. Luis Maroto, CEO, said the level of cancellations is “normalizing.” He also said the company has seen a strong rebound in business travel, and in the last part of the quarter that sector came very close in percentage terms to the levels seen in 2019. Amadeus generated a second quarter profit after taxes of about $242 million versus a net loss in the same period a year ago. Revenue was approximately $1.2 billion, down about 17% from the same period in 2019 but roughly double from a year ago. Looking ahead, Maroto acknowledged that inflation and an uncertain macro-economic environment could cause headwinds for recovery, but said the data hadn’t shown an impact yet. The majority of airlines, he said, are quite positive on the rest of the year, noting “the underlying demand may offset the potential macroeconomic environment, but this remains to be seen.“
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