For the second quarter of the fiscal year 2022, eDreams Odigeo reported bookings 22% above 2019 levels.
The European online travel company says its subscription service, Prime, has expanded with more than half a million new subscribers.
In November, Prime reached two million subscribers from eight markets. In the 12 months ending September 2021, the subscriber base grew 159%.
The company says 39% of its flight bookings are from Prime members.
Overall, eDreams says it has continually operated above pre-COVID booking levels with more recent months at +30 to 50%.
The company’s revenue margin increased 190% year-over-year, while cash registered margin was 18% below pre-COVID-19 levels due to disproportionate demand in shorter distanced flights.
Cash margin profit was €30.7 million for the second quarter of the fiscal year.
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Cash EBITDA was €16.2 million, 5.3x the amount in the first quarter.
EDreams maintained a strong liquidity position at €144 million at the end of September 2021.
“We are delighted with the way our business has traded, outperforming significantly as markets reopen endorsing the work done during the pandemic. We are now trading substantially above pre-COVID levels and are growing profitably too,” says eDreams Odigeo CEO Dana Dunne.
“Through Prime, our unrivalled scale advantage and bespoke proprietary platform eDreams Odigeo is reinventing travel, the way people look, book and discover their world. We are determined to maximize the competitive advantage and the huge potential we have in our subscription model, Prime and the way it can disrupt the travel marketplace.”