By Anita Kobylinska
(Reuters) – Spanish travel technology firm Amadeus’ reported its first loss in a decade in the second quarter when airlines around the world were grounded due to the COVID-19 pandemic, but the loss was less than expected.
Amadeus, the world’s biggest provider of booking services, reported a 231 million euro ($274.57 million) loss in April to June, compared to a 305 million euro loss forecast by analysts in a Refinitiv poll.
Its shares were trading flat by 0805 GMT after an initial modest rise.
Mirabaud Group analyst Gonzalo De Cueto said the group had a strong financial position with 4.1 billion euros in liquidity and had announced a plan to cut 250 million euros of fixed costs from 2020 until 2021.
The group said its air…