Over 10 million Americans traveled abroad in June, a 20% rise from the same period last year, according to the National Travel and Tourism Office’s latest data. June’s volume was 99% of its 2019 pre-pandemic level.
Amadeus Rides Heavy North America Travel Back to an Annual Profit
25.08.2023 - 14:05 / skift.com / Justin Dawes / Luis Maroto
Amadeus has achieved its first year of profit since the pandemic.
Amadeus generated an adjusted profit of $783 million (€742.2 million) in 2022. That number is a significant improvement from 2021, which saw a loss of $47.2 million (€44.7 million), though it is still 41.2 percent below profit for 2019.
The Spain-based company primarily operates the world’s largest global distribution system, which provides information that travel agents and others use to provide booking services to customers. Amadeus also offers software for travel agents, hotels, airlines, and other travel companies.
Total revenue for the company was $4.7 billion (€4.5 billion), a 68 percent increase from 2021. Most of its revenue comes from flights booked through its distribution system.
As previously announced, Amadeus expects to recommence dividends payments this year.
While bookings are continuing to rise significantly each year, totaling 396.3 million in 2022, they are overall still roughly 30 percent lower than in 2019. The fourth quarter of last year was a bit slower than the previous year, but international bookings are continuing to rise, with the strongest improvement from the Asia Pacific region.
The best performing region in 2022 was North America, which slightly exceeded performance there compared to 2019. North America now represents 30.8 percent of the company’s total bookings.
As Sabre also reported recently, demand has been uneven recently for several reasons. Like Sabre, Russian carriers left the Amadeus platform because of a new law there. Considering all the investments as well as high inflation, the company expects costs to rise this year.
“As you have seen in ’22, significant progress was made towards recovery. However, we are still at a point where we see degrees of uncertainty in the very immediate term making it difficult to narrowly forecast our evolution for ’23,” said Luis Maroto, president and CEO of Amadeus.
Amadeus said it signed a total of 65 new air distribution contracts and renewals in 2022. That includes 16 that were signed in the fourth quarter, including one with Ryanair.
Many of the partnerships Amadeus has made involve subscribing to its growing new distribution capability (NDC) services, a next-generation distribution system that’s meant to enhance communications between airlines and travel agents without the traditional global distribution system intermediary.
“With regards to NDC overall, it is a strategic priority for us. We have invested, we are in the process of implementing that. We have implemented already airlines and travel agencies, but this is a continuous process. In 2022, it was a very small percentage of our bookings. We expect that to increase,” Maroto said.
“This is an
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