Amadeus' global air bookings increased 4 percent year over year in the third quarter, with growth accelerating across most regions amid "a more stable global macroeconomic and geopolitical environment," the travel technology company reported.
That growth rate is an improvement over the 1.5 percent year-over-year growth rate seen in the second quarter and is Amadeus' highest quarterly growth rate in air bookings so far this year. Revenue per booking was up 4.7 percent year over year, "driven by positive pricing effects, including from renegotiations, new agreements and inflation," according to Amadeus.
With those increases, Amadeus' air distribution revenue increased 6.2 percent year over year to €769.1 million in the third quarter.
Third-quarter bookings growth accelerated over the second quarter in Amadeus' three largest regions for air bookings: Western Europe, North America and Asia/Pacific, each of which comprise roughly a quarter of Amadeus' total bookings. Asia/Pacific bookings had by far the largest rate of growth, up 15.3 percent year over year, up from the 10.8 percent growth rate in the second quarter.
Air bookings in North America and Western Europe increased by a more moderate 1.8 percent and 1.5 percent year over year, respectively. Both were an improvement over the second quarter, when bookings were up 1.2 percent in North America and down 2.2 percent in Western Europe. Year-over-year bookings were down in other regions in the third quarter: down 0.1 percent in the Middle East and Africa, down 0.3 percent in Central Europe and down 4.9 percent in Latin America.
The company noted that booking growth in the first weeks of October has "moderated relative to Q3."
Amadeus reported 14 new contracts and renewals of air distribution agreement in the quarter as well as a New Distribution Capability agreement with Saudi Arabian carrier Riyadh Air, bringing its total signed NDC agreements to 75. To date, 35 of those carriers' NDC content is available in the Amadeus platform, the company said.
Amadeus also reported new agreements with travel management companies Corporate Information Travel in Malaysia and UOB Travel in Singapore during the quarter.
Outside of air distribution, Amadeus' Air IT solution revenue increased 5.3 percent year over year to €605.7 million in the third quarter. Hospitality and other solutions revenue increased 4.9 percent year over year to €260.5 million, and total revenue for the quarter was up 5.6 percent year over year to €1.6 billion.
Amadeus reported a profit of €360.8 million for the third quarter, up 5.9 percent year over year.
RELATED: Amadeus Q2 results