Amadeus announced further cost-cutting measures amounting to annual savings of $293 million after reporting a loss of $104 million in the first half of 2020. The company had already announced cost reductions of $352 million in March.  Revenue declined by 55% to $1.5 billion during the first six months of the year, according to an announcement. Travel agency bookings were down 79% for the six months and passengers boarded down 56%. In the second quarter, the company reported travel agency bookings down 113% year-on-year but claims travel agency air bookings turned a corner in mid-June as the volume of cancellations seen in March, April and some of May began to slow. Luis Maroto, CEO, said that since late May, the company began to see an increasing number of flights being scheduled, and air traffic and bookings have been responding. However, he said, “the situation remains highly uncertain.” The savings in fixed costs is expected to come through an acceleration of digitalization programs, speeding up integration of acquisitions and general process simplification.