Amadeus remains "cautiously optimistic" about the year ahead after reporting important progress in its financial performance in 2021.
The technology and distribution company still had revenues trailing by 52% on the pre-pandemic 2019 reporting period but 2021 saw it bring in €2.7 billion to the overall business.
This figure is up 23% on 2020, when the first round of lockdowns shut down large swathes of the travel sector for months.
EBITDA increased by 175% on 2020 to €628 million from 2020 but is still 72% down on 2019.
Subscribe to our newsletter below
The Spain-based business still has some way to go to get back to the profits of 2019, reporting an annual loss of €45 million in 2021 - an improvement on the €302 million red figure in 2020.
Luis Maroto, president and CEO at Amadeus, says: "Throughout 2021, and despite different waves of the COVID-19 pandemic impacting travel, we saw continued recovery in volume performance, with encouraging positive trends in both air bookings and passengers boarded, across many regions.
"Last year, we remained focused on strengthening our business and continued investing for the future. On the commercial front, we made important progress and signed landmark agreements which reinforce our competitive position."
The biggest decline in travel agency bookings for air tickets compared to 2019 came in Asia Pacific (84%), with North America down 44%, Western Europe down 74% and Central, Eastern and Southern Europe down 56%.
Figures for total passengers boarded through the Amadeus system in 2021 are still down on 2019 levels by 63% in Western Europe, 20% in North America and 75% in Asia Pacific. Overall, Amadeus is still running 57% down on 2019.
Air distribution revenue came in at €1.06 billion in 2021, down 64% on 2019 but up 92% on 2020. Airline IT was also €1.06 billion for 2021, giving it an increase of 9% on 2020 but down by 41% on 2019.
Hospitality and other technology-related revenue was €539 million in 2021 (down 33% on 2019 and down 2% on 2020).
Maroto says: "Looking at the year ahead, we remain cautiously optimistic about the recovery in travel. The continued trust from existing and new customers in our products and solutions gives us confidence for the future."