Spain’s eDreams swings to profit as the number of its subscribers grow

(Reuters) -Spanish travel booking firm eDreams ODIGEO reported on Tuesday a net profit of 2.5 million euros ($2.65 million) in the July-September period, the second quarter of its accounting year, as it continued to gain more subscribers.

One year ago, the Barcelona-based firm had posted a net loss of 5.7 million euros.

The firm, whose subscription programme is the main driver of profitability, said the number of paying subscribers, rose 28% from the same period a year ago to 6.5 million. Paying subscribers gain access to cheaper flights on the company’s websites in exchange for an annual fee of about 50 euros.

eDreams managed last year to become profitable again after three years of losses caused by the pandemic-linked restrictions on travel.

The company said it was on track to meet its target of 7.25 million subscribers and 180 million euros in earnings before interest, taxes, depreciation and amortisation (EBITDA) this…