IT group Amadeus has seen positive financial growth in 2019. This has been due to solid business performance especially in IT Solutions and the consolidation of TravelClick (since October 4, 2018) and positive foreign exchange effects. A combination of these factors has driven double-digit growth in revenue. Amadeus has made a profit of €1,270.2 million, 13.4 percent more than the previous year.
Amadeus has had sustained growth
While the travel agency air booking industry has faced some setbacks leading to an overall decline of 0.9 percent in 2019 (excluding India, it remained broadly flat). Despite this, Amadeus has managed to make profits. Amadeus’ air booking outperformed the industry, remaining mostly stable (excluding India, our global air bookings grew 2.7 percent).
Luis Maroto, President & CEO of Amadeus, said: “Amadeus has closed another year of good growth. In Distribution, we saw market share gains in all regions except Asia-Pacific. In IT Solutions, our passengers boarded registered healthy growth thanks to recent customer implementations. We also made progress in our Hospitality business and continued expanding our reach both in Airport IT and Payments.”
He added: “Our business demonstrated resilience in 2019 through constant innovation, diversification and the strengthening of our existing businesses. However, the Coronavirus outbreak will impact our industry and our business in 2020, with a sequential rebound, if it replicates past episodes.”
Amadeus’ official statement also highlighted how securing content to serve customers is essential for future growth. During 2019, the company signed 47 new contracts or renewals of content agreements with airlines, including EasyJet and the low-cost carrier Thai Lion Air. Subscribers to Amadeus’ inventory can access more than 110 low-cost carriers (LCCs) and hybrid carriers’ content worldwide.