AFP

Spain's Amadeus rocked by collapse of flight bookings 31 July 2020 - 13:15

Spain's Amadeus, the world's biggest travel reservations company, posted an adjusted quarterly loss of 231 million euros ($275 million) Friday due to the collapse in flight bookings provoked by the pandemic.Throughout the first half of the year, its adjusted loss reached nearly 90 million euros, Amadeus said. The company does not publish its net results. Amadeus is a reservations platform for airlines, travel agencies and internet booking sites which also handles rail reservations, hotel chains and airport IT."The second quarter of the year was a very difficult moment globally for the travel industry due to the COVID-19 pandemic," said Amadeus chief executive Luis Maroto in a statement. "Large-scale lockdowns in different places had a major impact on travel, flight scheduling and on ticket reservations.. and on the volume of passengers," he said.In the second quarter, reservations via travel agencies using Madrid-based Amadeus' booking system fell by 113 percent compared with the same period in 2019. Throughout the first half, the number of passengers flying through bookings with Amadeus fell to 415 million, a figure half that of the same period in 2019. Revenue plunged 73 percent to 442 million euros in the first half. Since the end of May, Amadeus has seen a rise in the number of scheduled flights as well as air traffic and reservations, but the situation "remains very uncertain", Maroto said. The group said it would start a cost-cutting exercise to reduce expenses by 250 million euros a year, which follows a planned cut of 300 million announced in the first quarter. emi/hmw/mgAMADEUS IT HOLDING SA

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