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It's hard to predict an aviation rebound, so diversifying further into cruise and rail could help the tech business gradually recover, especially if pent-up demand for European travel materializes.
Domestic travel recoveries stemmed the rate of losses at technology giant Amadeus, which posted a marginally improved set of third quarter numbers on Friday.
The group grew revenue for the three months to October 2020 to $496 million (€41.8 million), which is a significant step up from the $307.5 million (€259.5 million) posted in the second quarter.
“The traffic evolution we saw in the third quarter was driven by domestic air travel, as international air travel continued to be broadly muted by cross-border mobility restrictions,” the company noted in a statement.
It also eked out a modest $2.5 million (€2.1 million) profit — but that's if you don’t count one-off costs from its savings program and other Covid-related expenses. Efforts to reduce overheads resulted in an adjusted loss of $148.1 million (€125 million) for the third quarter. That compares with a second-quarter loss of $273.7 million (€231 million).
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Of the $89.8 million (€75.8 million) implementation costs incurred in
