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…