By Olivia Bugault
Amadeus IT Group SA said Friday that it swung to a loss in the first nine months of the year, as air-travel demand remained weak during the third quarter on the back of the coronavirus pandemic.
The Madrid-based travel technology company booked a net loss of 356.4 million euros ($421.6 million) in the nine-month period, compared with a net profit of EUR886.3 million a year earlier.
Revenue fell to EUR1.7 billion from EUR4.23 billion, it said.
"Looking ahead to the rest of the year and the winter, the situation remains highly uncertain due to the second wave of the pandemic," Amadeus Chief Executive Luis Maroto said.
Amadeus said that it had more than EUR4 billion in liquidity at the end of September.
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(END) Dow Jones Newswires