Bookings in Amadeus’ global distribution system were up 32.8 percent year over year during the first quarter, remaining just more than 25 percent shy of booking levels in the first quarter of 2019, the company reported.
“Air traffic improved globally, both domestic and international, albeit at different paces,” according to Amadeus president and CEO Luis Maroto. He noted that the Asia-Pacific region recovered “particularly well,” with year-over-year booking growth about 150 percent.
The 74.9 percent recovery rate marked a 3.2 percentage-point improvement compared with the fourth quarter, according to Amadeus.
Amadeus reported air distribution revenue of €678.9 million for the first quarter, up 52.2 percent year over year. Besides higher booking, revenue also benefited from a 14.6 percent year-over-year increase in revenue per booking.
In its Air IT Solutions business, Amadeus reported revenue of €424.9 million, up 35.7 percent year over year, due to higher volumes of passengers boarded and despite a 12.5 percent decrease in average revenue per passenger boarded. Revenue from hospitality and other solutions increased 31.3 percent year over year to €207.5 million in the quarter.
Amadeus reported a profit of €273.1 million for the first quarter, compared with €95 million in the first quarter of 2022.
Amadeus Q4 earnings
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
