eDreams Odigeo felt the continued uncertainty in the travel business during the last quarter of 2020 but claims it in a strong position to "satisfy pent-up demand" when pandemic restrictions are lifted.
The online travel agency group reckons the business is "agile and nimble" enough to adapt quickly when travel markets open up over the next few months in its core European consumer base.
Revenues in the final three months of 2020 were down 77% year-over-year (known as its third quarter reporting period in the fiscal year) to €30 million.
Adjusted EBITDA showed a loss of €10.4 million across its portfolio of businesses including the core eDreams OTA, GoVoyages, Opodo, Travellink and the Liligo metsearch site.
The group has made a big play of its Prime subscription service in recent years and continues to continued growth in the model, having see a 55% year-over-year increase to 758,000 members.
It claims that by 2023 some two million customers will have become members.
CEO Dana Dunne says: "The strength of our finances, the adaptability of our business model and the mitigating actions taken during the pandemic have put us ahead of the market and will enable us to emerge strongly and well-positioned from the crisis."
eDreams Odigeo had a liquidity position of €125 million by December 2020 and €122 million at the end of January this year.