Spanish travel booking group Amadeus on Tuesday said its third-quarter adjusted net profit rose 44% from the same period a year ago to 315.5 million euros ($337.7 million) thanks to the global air traffic recovery.

Revenue rose 14% to 1.39 billion euros in the quarter, while the adjusted net profit was higher than the 285 million euros expected by analysts polled by Refinitiv.

Bookings in the third quarter grew 12.7% with Asia-Pacific the fastest growing region as China re-opened after the pandemic.

European Airlines, led by low cost Ryanair, have reported strong earnings as post-pandemic travel demand drives bookings across the continent to levels last seen in 2019, with growth projected to continue into the winter.

Ryanair, Europe's largest airline by passenger numbers, on Monday said it expects a to make a record annual profit. Lufthansa, EasyJet and IAG also beat expectations with their quarterly results.

Amadeus warned, however, that the travel rebound slowed in the third quarter, though it maintained its full-year outlook.

The group, which operates the world's largest travel booking system, expects a 20%-22.5% rise in 2023 revenue.

 

($1 = 0.9342 euros) (Reporting by Jakub Olesiuk and Matteo Allievi, editing by Inti Landauro, Kirsten Donovan)