Nov 19 (Reuters) – Spanish online travel booking firm eDreams ODIGEO (EDRE.MC) has bounced back since the pandemic and expects the growing popularity of its subscription-based model to boost revenues and profits even though travellers are not spending any more.
Paying subscribers gain access to cheaper flights on the company’s websites in exchange for an annual fee of about 50 euros ($53).
“Consumers are more conservative than before the pandemic”, CEO Dana Dunne told Reuters in an interview.
The company reported on Tuesday a net profit of 2.5 million euros ($2.7 million) for July-September, the second quarter of its financial year, as it gained more subscribers. A year ago, the Barcelona-based firm posted a net loss of 5.7 million euros.
The company returned to profit last year after three years of losses caused by the pandemic-linked restrictions…
