Amadeus posts profit rise with lift for air travel
Spain's Amadeus, a leading technology provider for the travel and tourism industries, posted on Monday double-digit growth in its first-quarter net profit on the back of a rise in global air traffic.
The company, the biggest provider by number of airline bookings in the world, said its net profit excluding the costs of going public and the gains from the sale of online travel agent Opodo rose 31.8 percent during the period to 131.3 million euros ($187.9 million).
Sales rose by 2.8 percent to 704.3 million euros as it benefited from a 5.9-percent increase in global air traffic.
Amadeus said its market share of travel agency air bookings rose by 0.8 percentage points during the first quarter to a record 37.4 percent.
Growth of bookings of low-cost carrier flights by travel agencies via the Amadeus system was especially strong, jumping 16 percent over the same time last year. They now account for nearly five percent of total air bookings.
The Madrid-based company said bookings were up in Western Europe, Latin America and North America while growth in the Middle East took a hot from the political unrest in the region.
Amadeus 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.
The UN body predicts international tourist arrivals will increase by 4.0 percent this year over 2010.