GDS titan Amadeus said its half-year revenue in 2020 contracted by 54.7% to EUR 1,281 million while its EBITDA decreased by 83.6% to EUR 194.1 million. Passengers boarded contracted by 56.2% to 415.2 million.
Luis Maroto, President & CEO of Amadeus, commented that the company has seen an increasing number of flights being scheduled, and air traffic and bookings have been responding, since late May.
In the second quarter of 2020, Amadeus travel agency air bookings were highly impacted by COVID-19 and contracted by 113.2% compared to the same period in 2019. Volumes reached a low in April and started to show improvement thereafter.
Whilst volumes in April and May were still negative, as cancellations exceeded gross bookings, travel agency air bookings turned positive from approximately mid-June, as the higher level of cancellations in March, April and part of May started to slow down. Also, as more schedules were made available by airlines from late May, gross bookings generally responded.
IT Solutions revenue in the second quarter decreased by 55.8% compared to the same period of 2019, increasing the first half revenue contraction to 29.4%. The revenue decline was driven by the low airline passengers boarded volumes, impacted by the COVID-19 pandemic.
In the second quarter of 2020, Amadeus’ passengers boarded decreased by 93.9% to 31.3 million. Organic passengers boarded declined by 93.9%, with contractions reported across all regions.
In the first half of 2020, Amadeus passengers boarded contracted by 56.2%.
Amadeus currently has liquidity available of EUR 4 billion.