Amadeus earnings increase 11.7% in Q1

- Tuesday, May 10, 2011

Amadeus earnings increase 11.7% in Q1

Amadeus IT Holding - the parent of Spanish travel and tourism platform supplier Amadeus Group - saw an 11.7% year-on-year boost in its Q1 bottom line to 144mn euros (US$207mn), the company announced in a release.

Revenues from continued operations increased 2.8% to 704mn euros, while net consolidated debt stood at 2.44mn euros at end-March - a 131mn-euro reduction from end-December 2010.

Amadeus said that during the quarter, it held on to the top market position for airline reservations, with a total 37.4% of worldwide reservations made on its platform. The number of passengers handled increased 38.8% to 94mn, with 110 airlines running Amadeus' Altéa solution.

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In April, Amadeus signed a five-year contract extension with Brazilian travel agency B2W Viagens.