Amadeus saw 1.5% year‑on‑year growth in airline bookings in Q2—even after adjusting for Easter effects, bookings would still only have risen 2.2%, down from 2.5% in Q1 and 9% in Q4 last year. Despite this deceleration, group revenue climbed 4.6% to €1.63 billion, air distribution and air IT solutions continued delivering solid pricing gains, and profit rose 11.3% year‑on‑year to €372 million.
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AmadeusAmadeus reported modest air booking growth in Q2 2025, with volumes rising just 1.5% year over year, reflecting a broader softening in global air travel demand. The firm noted that excluding the timing of Easter, booking growth would have reached 2.2%, still lower than Q1’s 2.5% and well below Q4 2024’s 9% surge.
Revenues from the air distribution business rose 6.1% to €786.7 million, driven by a 7.1% increase in revenue per booking thanks to pricing improvements, new contracts, and inflation-related renegotiations. Across all segments—including Air IT Solutions and Hospitality & Other Solutions—Amadeus posted 4.6% group revenue growth to €1.63 billion, with adjusted operating income rising 6.8% at constant currency.
Profitability was strong, with Q2 net profit up 11.3% to €372.1 million, supported by higher yields and stable margins.
Regional Insights & Strategic Trends
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Asia-Pacific led global regions, with bookings jumping 10.8% in Q2 and 10.4% through H1, making it Amadeus’s fastest-growing region.
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Central, Eastern & Southern Europe booked a healthy 5.8% quarterly gain, while North America saw modest growth of 1.2%. Bookings declined in Latin America (−5.3%), the Middle East & Africa (−4.8%), and Western Europe (−2.2%).
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Amadeus secured 17 new airline distribution contracts or renewals, and had signed 74 New Distribution Capability (NDC) agreements by the end of Q2.
Broader Financial Picture
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In the first half of 2025, group revenue rose 6.8% to €3.26 billion (+7.6% constant currency), and adjusted operating income grew 7.6% constant currency, while EBITDA expanded 6.3%, with margins at 39.1%.
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Amadeus continued investing heavily in R&D—over €700 million, representing 20% of revenue—and executed €480 million worth of share buybacks under a €1.3 billion program initiated in March 2025.
The Q2 booking slowdown signals a market shift from the pandemic rebound towards normalization. Still, Amadeus’s diversified IT, distribution, and hospitality platform, robust pricing strategies, and strength in Asia are cushioning the impact—delivering revenue, margin expansion, and strong cash flow even amid softer global demand.
Source: Amadeus
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