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Turism&Travel : Amadeus to make initial public stock offer to pay debts

Saturday 27 March 2010

23 billion so it can pay down its debt. Amadeus's revenue dropped 1.8 percent to US$3.3 billion in 2009 compared to the previous year.

BC Partners and Cinven of London control Amadeus, and Air France-KLM, Iberia and Lufthansa also hold minority stakes in the company. The company generated revenues of €2,461 million ($3.3 billion) in 2009 versus €2,505 million ($3.34 billion) in 2008. Amadeus said that 93 percent of its 2009 revenues are characterized as recurring, since these revenues were generated under long-term contracts with its clients and long-lasting relationships. Its EBITDA margin increased year-on-year to 36.3 percent (versus 34.9 percent in 2008) as the company benefited from scale efficiencies resulting from its sustained investments in technology and systems. Following difficult trading conditions in the first and second quarters of 2009, revenues and EBITDA showed significant growth in subsequent quarters as air travel volumes recovered.

Amadeus has undergone a significant transformation since its subsidiary Amadeus IT Group S.A. was taken private in 2005. The company's traditional travel distribution platform now connects more than 103,000 travel agency points of sale, over 720 airlines (of which more than 460 are bookable), more than 85,000 hotels, and many other travel providers.

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Autor: eTurboNews
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