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- EIB supports R&D of Amadeus IT Group
- EIB provides €200 million to IT travel sector leader Amadeus IT Group.
- This loan will be directed to R&D activities with a focus on France.
The European Investment Bank (EIB) is providing a €200 million loan to the Amadeus IT Group, the world’s leading global distribution system (GDS) and IT solutions provider for the travel industry, based in Madrid. This financing concerns R&D activities, with a focus on France (Nice Sophia Antipolis) and is aimed at the development of a wide variety of technologies and features that will be used in different software products by airlines, airports, travel agencies and railway operators. The new developments include software frameworks, cloud migration tools, and customer experience and loyalty management applications.
Amadeus, the largest R&D investor in the IT travel sector in Europe, is a leading global provider of technology for the travel industry. This operation illustrates the EIB’s ability to support a European market leader for technological expertise and innovation. The proposed EIB loan facility is also expected to facilitate the Group’s efforts to penetrate related new market areas and continue diversifying its sources of funding.
This loan further builds on the existing relationship between the EIB and Amadeus. It will be the third loan granted to Amadeus. In 2013, the company was granted financing for €150 million, which followed a €200 million loan agreed between both entities in 2012. All three agreements have aimed at supporting R&D investment and innovation in the travel sector.
The EIB Vice-President responsible for innovation, Ambroise Fayolle, said: “We are proud to support a European champion in the IT travel industry over the long run, and the deal is proof that even in the current challenging environment, the EIB is fully mobilised to deliver on our mission to continuously support investment and innovation in Europe.”
Ana de Pro, Chief Financial Officer of Amadeus, explained: “We are proud that we have received this loan and can continue our positive and fruitful relationship with the EIB. This milestone is proof of our long-standing commitment to R&D and innovation in the travel industry, which has been key to our success over the years and which we are certain will continue playing a significant role in our future development. Investment in technology and digital solutions continues to be critical to foster competitiveness and industrial development in the European Union.”
Background information
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
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