Airline bookings in Amadeus' distribution systems were up by 32.8 per cent in the first quarter of 2023 compared with a year ago, although they remain more than 25 per cent below 2019 levels.
The Madrid-based travel tech giant said that the recovery in air bookings reached 74.9 per cent in the first three months of the year, which was a 3.2 percentage point improvement on the fourth quarter of 2022. Amadeus said it was “outperforming the industry supported by market share gains”.
“Air traffic improved globally, both domestic and international, albeit at different paces," added Amadeus’ president and CEO Luis Maroto. He noted that the Asia-Pacific region recovered “particularly well” in Q1 with year-on-year booking growth of around 150 per cent.
Amadeus reported air distribution revenue of €678.9 million for the first quarter, up 52.2 per cent on Q1 of 2022. As well as increased booking levels, the company also benefited from a 14.6 per cent year-on-year increase in revenue per booking.
In its Air IT Solutions business, Amadeus reported revenue of €424.9 million, up 35.7 per cent year-on-year due to the higher volumes of airline passengers compared with the previous year.
Revenue from hospitality and other solutions increased 31.3 per cent year-on-year to reach €207.5 million for the quarter.
As a company, Amadeus reported a profit of €273.1 million for the first quarter, compared with €95 million profit in the first quarter of 2022.
“We continued executing on our strategy, with several airlines migrating to our systems during the quarter,” said Maroto. “In addition, we maintain a positive commercial pipeline, which along with recovering travel volumes, should continue to support our performance this year.”