Amadeus posts jump in net profit as global travel rises

Spain's Amadeus, the world's biggest processor of travel bookings, posted Wednesday a double-digit jump in its first quarter net profit on the back of a rise in global travel.

The company said its three months to March net profit rose 22.1 percent from a year earlier to 167.9 million euros ($218.7 million) while sales were up 8.5 percent to 764.1 million euros.

The total number of bookings, for both flights and non-air travel, that used the company's reservation system rose 6.1 percent to 132.3 million.

The Madrid-based company said its market share of travel agency air bookings rose 0.9 percentage points during the first quarter to 38.2 percent.

"Following on from our strong outcome in 2011, the results from the first quarter of this year continue to be very encouraging," Amadeus president Luis Maroto said in a statement.

"Despite the uncertain economic environment, we look forward to the remainder of the year with confidence."

The United Nations World Tourism Organization predicts the number of international tourist arrivals will rise this year by 3.0-4.0 percent, reaching the historic one billion mark by the end of the year

(c) 2012 AFP