Amadeus to acquire rival GDS?
Amadeus was at the centre of speculation that it may acquire another GDS as it produced strong first quarter financial results.
Net profits rose almost 40% year on year to Euro71.3 million based on a seven per cent rise in turnover to Euro538 million.
As a result the company lifted its full year profit forecast to Euro 185-195 million, forecasting that bookings will grow by six to seven per cent this year over 2003.
The Financial Times speculated that Amadeus could acquire one of the three US GDSs once the European market is fully liberalised this year.
Amadeus has previously been linked with a take over of Worldspan before the US GDS was acquired by banking and venture capital firms.
An Amadeus spokesman said: “We are not in a position to comment.”
Commenting on the first quarter results, Amadeus president and chief executive Jose Antonio Tazon said the company had “exceeded expectations” with strong figures across the board in the first quarter, particularly in North America and Asia Pacific, two of the regions most affected by the Iraq war and SARS crises in 2003.
“The first quarter reflects the effects of our cost control strategy and shows once again how Amadeus’ unequalled global spread of business allows us to benefit from regional growth patterns,” he said.
Report by Phil Davies
Phil Davies
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