Amadeus posts higher 2010 profits on global travel rebound

25th February 2011, Comments 0 comments

Spanish travel services group Amadeus posted Friday a 2010 net profit of 427.4 million euros, 24.3 percent higher than the previous year as the tourism industry recovered faster than expected from the global financial crisis.

The company, the biggest provider by number of airline bookings in the world according to its web site, said its revenues rose 10.6 percent last year over 2009 to 2.68 billion euros (3.69 billion dollars).

For the fourth quarter of 2010 Amadeus posted a net profit of 72.8 million euros, a 2.1 percent increase over the same year-ago period.

The travel reservations technology company returned to the public market with a 1.3 billion euro listing in April 2010 after a five year absence.

International tourist arrivals rose 6.7 percent in 2010 over the previous year to 935 million, according to the UN World Tourism Organisation. The figure was higher than the pre-crisis level of 913 million in 2008.

© 2011 AFP

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