Amadeus profits up despite aviation 'weakness'

by Phil Davies
by Phil Davies
August 3, 2012 08:01 AM GMT

Half year profits at Amadeus increased by 26.1% to €332.5 million despite the GDS reporting 'weakness' in the aviation sector in recent months.

The figure came as the technology group said its global share of travel agency air bookings rose by one percentage point to reach 38.3%.

Passengers boarded lifted by 27% to 259 million as total revenue grew 8.6% to €1.5 billion and EBITDA rose 6.1% to €606.9 million.

Revenue in the company’s distribution business increased by 7.2% to €1,1 billion.

The number of total bookings, including both air travel agency and non air bookings, improved by 4.2%, to €252.2 million.

President and chief executive Luis Maroto said: “Despite the ongoing challenges of the global economic environment, this has been a successful first half of the year and we have continued our growth record.

“The global economic outlook remains uncertain, and air traffic and GDS volumes have shown weakness in recent months, driven by the economic environment.

“Nonetheless, we believe that our business model will continue to prove resilient and support good results for the second half of this year.”

The European Investment Bank granted Amadeus a €200 million senior unsecured loan in May with a nine year maturity for investment in research and development.

Amadeus also secured a €200 million revolving credit facility with 11 banks.

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