Published on Thursday, August 4, 2011

Amadeus announces profit rise



Technology supplier Amadeus has announced a 12.2% rise in profits to €263.7m for the first half of the year, backed by a 3.9% rise in revenue.

Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in the way certain bookings within IT Solutions are treated, revenue grew by 5.8%.

During the second quarter of the year, Amadeus refinanced its debt with new €2.7bn senior unsecured financing.

The company increased its global market share of  flight bookings from travel agencies by 0.8 percentage points during the first half of the year to 37.2%, maintaining its leadership position.

President and CEO Luis Maroto said: “This has been a positive and active first half of the year.

"At an operational level, both our Distribution and IT Solutions businesses continued to grow and in particular had significant successes in the Asia-Pacific region, adding further visibility to our future growth."


By Linsey McNeill

 



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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.

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