Tag: Amadeus

Amadeus IT Slips To Loss On Weak Travel; Sees Highly Uncertain Times Ahead; Stock Down

(RTTNews) – Amadeus IT Group SA (AMADY.PK, AMADF.PK), a Spanish IT provider for travel and tourism industry, reported Friday that its nine-month loss was 356.4 million euros, compared to last year’s profit of 886.3 million euros.

Adjusted loss was 214.2 million euros, compared to profit of 987 million euros a year ago. Adjusted loss per share was 0.48 euro, compared to profit of 2.29 euros a year ago.

EBITDA declined 88.8 percent to 196.2 million euros from 1.75 billion euros last year.

Revenue was 1.70 billion euros, down 59.8 percent from 4.23 billion euros last year.

Distribution revenue declined 76.9 percent and IT Solutions revenue fell 37.5 percent.

Total bookings fell 79.1 percent from last year to 103.8 million, and Passengers boarded declined 63 percent to 553.2 million.

In the third quarter of 2020, Amadeus travel agency air bookings contracted by 89.8 percent, a minor recovery from the 113.2 percent air booking decline in the second quarter.

Luis Maroto, President & CEO of Amadeus, said, “Travel remained depressed in the third quarter due to the COVID-19 pandemic, although we saw a slight improvement in global air traffic across regions thanks to movement restrictions being lifted in parts of the world. This traffic improvement was driven by domestic air travel.”

Looking ahead to the rest of the year and the winter, the situation remains highly uncertain due to the second wave of the pandemic.

In Spain, Amadeus IT shares were trading at 45.90 euros, down 1.54 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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