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Spain's Amadeus Q2 net profit soars as tourism recovery accelerates

·1-min read
The logo of Amadeus IT Group tops the company's offices in Madrid

MADRID (Reuters) - Spanish travel booking group Amadeus on Friday reported a second-quarter net profit of 237 million euros, compared with a net loss in the same period last year, as the travel industry's recovery from COVID-19 accelerated.

The company, which operates the world's largest travel booking system, said overall revenue in the period almost doubled from the second quarter in 2021 to 1.18 billion euros and was a step closer to pre-pandemic levels.

"Travel agency booking performance improved due to industry recovery and market share growth, fuelling our growth in all of our regions, particularly North America," Amadeus's CEO Luis Maroto said in a statement.

Despite high inflation brought on by the war in Ukraine, international tourism took off in 2022 after the COVID variant Omicron temporarily put a halt to the industry's recovery in late 2021.

(Reporting by Christina Thykjaer, editing by Inti Landauro)

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