Spanish travel booking group Amadeus returned to profit in the third quarter after more than a year of quarterly losses, it said on Friday, citing a pick-up in flight bookings after pandemic-related travel restrictions eased.
The company made adjusted net profit of 23.8 million euros ($27.51 million) in the third quarter compared with a 125 million euro loss in the same period a year ago. Its free cash flow turned positive, with an inflow of about 84 million euros.
The number of reservations made through Amadeus's distribution platforms, however, was still 59% below 2019 levels.
"Looking at the rest of the year, we are confident that our commercial momentum, along with the upward trend in travel volumes, will allow us to maintain this positive progression towards recovery," Chief Executive Luis Maroto said.
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