Amadeus says it is on track to be the lead partner for airlines globally in retail IT transformation having reported increased revenues and profits in the first nine months of 2024.
The Aviation technology giant saw air distribution revenues increase 10% to €2.3 billion while its air IT solution business grew income by 16.2% to €1.64 billion.
Overall group revenues were up 12.6% to €4.6 billion and profitability (EBITDA) stood at €1.8 billion as of September 30.
Operating Income increased 16.9%, to €1.3 billion while adjusted profit increased 17.4%, to €1.02 million.
Luis Maroto, president and chief executive Amadeus, said: “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.
“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.”
Amadeus said its “solid financial performance” over the first nine months of 2024 “supported free cash flow generation of €975.2 million, resulting in net financial debt of €2.5 billion.
During the first three quarters of 2024, air distribution revenue increased by 10.0% year-on-year, supported by booking growth of 3.4% and booking revenue expansion of 6.4%.
In a trading statement Amadeus said: “We continued to progress well on our NDC strategy. Delta Air Lines and Virgin Australia signed NDC distribution agreements with Amadeus to distribute their NDC content through the Amadeus Travel Platform.
“Notably, India’s leading airline, IndiGo, entered into a strategic NDC partnership with Amadeus to provide travel sellers in India and around the world with access to IndiGo’s NDC content via the Amadeus Travel Platform.”
Air IT solutions revenue grew by 16.2%, supported “passengers boarded evolution” which increased by 12% in the nine-month period.
“This increase was driven by global air traffic growth and the positive impact from Amadeus’ 2023 – 2024 customer implementations,” added Amadeus.
“During the third quarter, we officially introduced Navitaire Stratos, a modern retailing portfolio for low-cost and hybrid carriers.
“This portfolio enhances traveller-focused services, reduces costs, and supports flexible partnership integrations, while meeting industry Offer and Order standards.
“Also in this quarter, Qatar Airways expanded its partnership with Amadeus by signing for Amadeus Ancillary Dynamic Pricing, part of our Offer Management portfolio.”
Amadeus said it has continued to expand its customer base in airport IT this year selling solutions to several new customers such as Groupe ADP.
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