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- EIB and Amadeus sign new €250 million partnership to support R&D investments in IT solutions for the travel industry
The EIB will provide €250 million to IT travel sector leader Amadeus
The loan will target the financing of research and development activities carried out by Amadeus in Europe
The European Investment Bank (EIB) and Amadeus have announced the signature of a new €250million loan. This new loan strengthens the long-standing partnership between the EIB and Amadeus, which now includes four loans totalling €800million for research and development financing since 2012.
The new €250million loan targets the financing of research and development activities carried out by Amadeus in Europe, especially at Amadeus’ site in Nice Sophia Antipolis, France, which employs over 4200 people and supports the development of a wide variety of technologies to be used in different software products across the entire travel and hospitality ecosystem. This partnership will enable Amadeus to continue its investment in technologies and consolidate its position as a leading provider of technological solutions for the travel industry.
Till Streichert, Chief Financial Officer, Amadeus, said:“We are proud to continue our long-standing relationship with the EIB, this will be the fourth loan granted to Amadeus. Our technology powers the global travel and tourism industry. Inspiring more open ways of working. More connected ways of thinking. Always with an eye on how the industry can evolve. On how our customers can better serve travellers.”
EIB Vice-President Ambroise Fayolle added: “We are proud to provide long-term support to a European champion of the IT travel industry like Amadeus. Investment in technology continues to be critical to fostering innovation and competitiveness in the European Union, thereby contributing to the digitisation of an essential sector of the European economy. Amadeus' commitment to achieving carbon neutrality in its operations by 2025, and to working with stakeholders from across the travel ecosystem to this end, is a very important step towards achieving a successful green transition of tourism activities.”
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