Amadeus Obtains €200 M EIB Loan For Innovation In The Tourism Sector

Amadeus will join other six Spanish companies in the Eurozone's indexAmadeus saw a 60.5% drop in profit in the first quarter of 2020

The European Investment Bank (EIB) has granted Amadeus a €200 million senior loan, with no financial covenants. The maturity of the loan is between four and seven years from the date of principal drawdown if repaid in one instalment. This extends to up to twelve years if repaid regularly at the company’s choice. The loan’s principal will be used to finance research and development activities for a variety of new technology solutions for airlines, airports, travel agencies and railways. Amadeus will carry out this R&D in 2020-2021. This EIB loan is available in two maximum tranches at a fixed or variable interest rate, at the company’s discretion, to be established at the time of disbursement of each tranche.

Amadeus continues to raise financing in the current difficult situation. According to estimates by Renta 4, it would have almost 5 billion euros available cash. This seems a large amount and should allow the company to operate normally.

The technology provider for the tourism sector saw a 60.5% drop in profit in the first quarter of 2020 to 117.8 million euros from a year earlier, due to COVID-19.

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