Travel technology company Amadeus has reported a growth of 17.8 pc in its profits in third quarter of 2024, compared to the period year before.

In a press statement, Amadeus says that its profit rose to EUR 992.1 million, while it registered a 13.3 pc year-on-year growth in Earnings before Interest, Taxes, Depreciation, and Amortisation (EBITDA) to EUR 1,806.3 million. 

Luis Maroto

“We have delivered a high-growth, profitable and cash-generative evolution in the first nine months of 2024, supported by strong performances across our businesses. Based on our solid financial situation to date and our prospects for the fourth quarter, we reiterate our confidence on the outlook we issued at the beginning of the year,” says Luis Maroto, President and CEO, Amadeus.

The company also showed promising results in various segments including a 10 pc increase in air distribution revenue and a growth of 3.4 pc in bookings relative to 2023.

Driven by global air traffic growth, the company saw a 16.2 pc increase in the revenue generating EUR 1.64 billion from its Air IT Solutions segment. During the third quarter Amadeus also introduced Navitaire Stratos, a modern retailing portfolio for low-cost and hybrid carriers which aims to enhance traveller-focused services, reduce costs, and support flexible partnership integrations, while meeting industry Offer and Order standards.

The statement adds that Qatar Airways expanded its partnership with Amadeus by signing for Amadeus Ancillary Dynamic Pricing, which is part of the company’s Offer Management portfolio.

“We are confident about the growth opportunities ahead for Amadeus and we are committed to achieving them. Amadeus is accelerating investment and aims to become the undisputed aggregator of NDC volumes for airlines and travel agencies, to lead the airline IT retailing transformation, and to be the IT provider of reference to the hospitality industry,” adds Maroto.