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Amadeus revenues halve in early 2021, vaccine programs offer hope

Amadeus believes “improving traveler sentiment” and the roll-out of vaccine programs around the world will lead to a stronger recovery for the business during the rest of 2021.

The Spain-based IT and distribution provider saw its total revenue figure come in at 50% lower in the first quarter of the year compared to the corresponding three months in 2020.

Its revenue was made of $233.9 million from distribution and $369 million from IT services, down 58% and 46% respectively year-over-year.

EBITDA for the business fell by 85% to $65.6 million in the first quarter.

Bookings through the GDS in the first quarter of 2021 were hit particularly hard in Western Europe, as new lockdown restrictions came into effect after a resurgence of Covid-19…

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