Monday, April 22, 2024
26 C
Brunei Town

Spain’s Amadeus slashes losses as air travel recovers

MADRID (AFP) – The world’s biggest travel reservations company Amadeus yesterday said losses last year had narrowed dramatically as air travel resumed after a complete halt in 2020 due to COVID.

The Spanish firm recorded an adjusted loss of EUR45 million (USD50 million) in 2021 against EUR302 million a year earlier when flights were grounded worldwide.

Amadeus, whose main service is a plane ticket reservation platform for travel agencies, made a profit of EUR62 million in the second half of 2021 after posting a EUR 107-million loss between January and June. But annual turnover and the number of passengers who boarded flights thanks to the company’s services remained well below the corresponding figures for 2019.

spot_img

Latest

spot_img