Amadeus has reported a near 4 per cent fall in airline bookings and profit for the six months to June, as the Spanish travel technology group cited the impact of the Middle East crisis and warned it would continue to weigh on its growth outlook.
The group, which operates the Amadeus global distribution system (GDS) used widely by travel agents, recorded 238 million GDS bookings in the first half of 2026, a 3.7 per cent decline on the same period last year. Profit fell 3.7 per cent to A$1.15 billion (€700.2 million), down from A$1.19 billion (€727.4 million) in H1 2025.
Group revenue rose 2.3 per cent to A$5.47 billion (€3,334.9 million), or 5.1 per cent at constant currency. Operating income grew 0.6 per cent to A$1.55 billion (€943.2 million), while adjusted EBIT climbed 4.9 per cent at constant currency to A$1.66 billion (€1,011.5 million). Free cash flow rose 0.8 per cent to A$774.4 million (€472.2 million), and net financial debt stood at A$4.23 billion (€2,577.5 million), equal to 1.0 times last-twelve-month EBITDA.
From March, the escalating geopolitical situation in the Middle East has weighed on global air traffic, with the International Air Transport Association reporting negative global air traffic growth in April and May – the first time this has happened in 15 years, excluding the Covid period. Amadeus said the disruption drove a heightened level of booking cancellations, contributing directly to the fall in both GDS volumes and profit.
President and chief executive Luis Maroto struck a more upbeat tone, pointing to revenue and adjusted profit growth and sustained commercial momentum across the business despite volumes softening from March.
“The recent slowdown in air traffic expectations has had a limited impact on our outlook, highlighting the breadth and diversification of our business across customers, segments and geographies,” Maroto said.
He said Amadeus remained focused on delivering for customers and managing the business with financial discipline, while continuing to embed artificial intelligence across its portfolio and expand strategic partnerships, including with Google, to orchestrate the AI-enabled travel ecosystem.
Air Distribution, which includes the GDS business, posted revenue of A$2.6 billion (€1,584.7 million), up 1.1 per cent at constant currency, though down 1.5 per cent in actual terms. Amadeus said the segment had a strong start to the year, but from March, booking growth was hit by the Middle East situation, resulting in the 3.7 per cent contraction in bookings over the six-month period. Revenue per booking grew 5.1 per cent at constant currency, cushioning the impact of lower volumes on the segment’s overall revenue. Amadeus does not break out profit by segment.
Air IT Solutions delivered revenue of A$1.98 billion (€1,206.8 million), up 8.7 per cent at constant currency. Passengers boarded reached 1,089.1 million, up just 1.1 per cent, reflecting the slower global air traffic environment. Amadeus said it had helped airline customers manage the resulting travel disruption, which lifted transaction volumes in the second quarter.
Hospitality & Other Solutions revenue rose 9.2 per cent at constant currency to A$891.2 million (€543.4 million), driven by new customer implementations and higher transactions across the group’s hospitality and payments businesses.
Amadeus completed its A$820 million (€500 million) share buyback program in June, having announced the initiative in late February. The company also confirmed it has signed a Share Purchase Agreement for its planned acquisition of IDEMIA Public Security, a biometrics and identity services provider, and remains on track to secure regulatory approvals by mid-2027.
