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Press release November 5 , 2021 amaDEUs Q3 2021 financial results Highlights Amadeus reports first quarterly profit since the pandemic as travel volumes continue to improve Highlights for the three months ended September 30 , 2021 – Adjusted profit¹ reached € 23.8 million , a 92.6 % contraction versus the same period of 2019. This represents a 14.5 percentage points ( p.p. ) increase versus the growth rate in the second quarter . Free Cash Flow² amounted to € 83.6 million , or € 103.5 million excluding cost saving program implementation costs paid ( € 56.5 million in the nine - month period , excluding implementation costs paid ) . · Net financial debt³ was € 3,173.9 million at September 30 , 2021 . Relative to the same period of 2019 : - · In Air Distribution , our travel agency air bookings decreased by 58.5 % , a 9.1 p.p. improvement over the second quarter's performance . In Air IT Solutions , our passengers boarded ( PB ) declined by 50.7 % , a 17.0 p.p. enhancement over the growth rate in the previous quarter . Revenue contracted by 47.3 % , to € 739.1 million , advancing 8.8 p.p. from the performance in the second quarter . - EBITDA4 decreased by 63.5 % , an 11.8 p.p. improvement from the second quarter's performance . Luis Maroto , President & CEO of Amadeus , commented : " During the third quarter , we continued to see progress in volume performance , with positive trends in both air bookings and passengers boarded , across all regions . This also extends to our Hospitality segment , with performance improvements across our entire portfolio , and more notably in revenue lines driven by transactions , such as reservations , bookings and media clicks . " As a result , we saw our first quarterly profit since the pandemic started , of € 23.8 million¹ . Our free cash flow also turned positive , with an inflow in the quarter of € 83.6 million . " Looking at the rest of the year , we are confident that our commercial momentum , along with the upward trend in travel volumes , will allow us to maintain this positive progression towards recovery " . 1 Excluding after - tax impact of the following items : ( i ) accounting effects derived from PPA exercises and impairment losses , ( ii ) non - operating exchange gains ( losses ) , ( iii ) costs related to the implementation of the cost saving programs and ( iv ) other non - operating , non - recurring effects . 2 Defined as EBITDA , minus capex , plus changes in our operating working capital , minus taxes paid , minus interests and financial fees paid . 3 Based on our credit facility agreements ' definition . 4 Adjusted to exclude costs incurred in the third quarter of 2021 , related to the implementation of the cost saving program announced in 2020. These costs relate mostly to severance payments and amounted to € 3.4 million in the third quarter of 2021 ( € 2.5 million post tax ) .