Amadeus first-quarter profits rise 11.7%

Amadeus first-quarter profits rise 11.7%

Amadeus saw first quarter profits rise by 11.7% to reach €144 million in a period when it struck new long term distribution deals with Tui and American Express.

Revenue from continuing operations grew by 2.8% year on year to €704.3 million. Excluding the sale of stakes in and Hospitality Group in 2010, revenue grew by almost 5%.

The first quarter figures exclude the sale of Opodo for €450 million to AXA Private Equity and Permira Funds in a deal announced in February but subject to approval by regulatory authorities, which is still pending.

Revenue from distribution rose by 2.8% to €553.5 million with total bookings up by 4.3% from 119.5 million to 124.7 million.
Amadeus claimed 37.4% of the global market share of travel agency air bookings during the first quarter of 2011.

The Amadeus IT Solutions business increased revenue 2.8% to €150.9 million with 110 airlines signed up to the Amadeus Altéa suite of technology solutions.

The company’s president and CEO Luis Maroto said: “We have made a good start to the year with both of Amadeus' business lines continuing to show healthy growth during the quarter.

“In distribution our global market share of air bookings through travel agents rose by 0.8 p.p. year on year to a record 37.4%, further widening our leadership position worldwide.

“In airline IT we processed 94 million 'Passengers Boarded' during the quarter, 38.8% more than a year ago.”

TUi Travel extended its global partnership with Amadeus for six years in the quarter to give an expanded agreement in 22 markets covering both GDS and leisure distribution.

Amadeus and Amex also signed a five-year distribution deal covering multiple markets worldwide.


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