Amadeus earned €917.2 million in revenue in the first quarter of 2022, the most since the COVID-19 pandemic occurred.
The Spain-based distribution and technology behemoth has still not fully come out of the effects of the pandemic, with revenue for the quarter falling to 65% of the same measure in Q1 2019, but CEO Luis Maroto claims the firm is seeing “continuous increases in flight reservations and passengers boarded.”
For the January to March 2022 period, adjusted profit was €95 million, up 15% from the previous quarter and reflecting 28% of what was achieved in Q1 2019. At €295.8 million, EBITDA is almost half of what it was in the first quarter of 2019. Air distribution revenue increased by 155 % year on year to €446 million, with the airline IT and hosting business bringing in €313 million (up 47 % year on year but only 26 % of the Q1 2019 number). Hospitality and other revenue streams generated €158 million, which was just 15% of the same reporting line in Q1 2019.
Amadeus obtained total air bookings of 91.7 million in Q1 2022, up from 33.8 million in the same period in 2021, but still falling short (44 %) of 2019. Similarly, the number of passengers boarded across the system in the most recent quarter was 264 million, representing 40% of the same quarter in 2019 but increasing by 108% in 2021.
Referencing progress in the air distribution segment, Amadeus says: “The continued recovery of our bookings across regions, supported by market share gains, combined with an improving revenue per booking performance (as the weight of local bookings continues to decline towards its pre-pandemic level) were the main drivers of revenue in this segment.”