A "rapid increase in trade" when European countries eased their travel restrictions between June and September has given eDreams Odigeo cause for some optimism.
The Spain-based online travel agency group brought in €34.4 million in the quarter ending September 30 (its fiscal year's second quarter) - a 75% slump on the same period in 2020.
But this figure is over double the amount from the previous three-month period, at the height of travel restrictions in its core European markets.
The company, whose brands include Opodo, Liligo and GoVoyages, says the volume of bookings over the quarter were down 62% year-over-year.
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Adjusted EBITDA amounted to a €2.1 million loss in the quarter - an improvement on the €15 million loss during the previous three months.
The total number of members of the company's Prime subscription service have continued to increase, rising to 664,000 customers after an increase of 100,000.
The company says over a quarter of its total bookings are now being made through the Prime service.
CEO Dana Dunne says the business has spent the pandemic period working on development and strengthening the company to "ensure that we emerge as winners from the COVID-19 crisis."
eDreams Odigeo's earnings statement adds: "Our liquidity position of €117 million at the end of October, including the acceleration of reimbursements to customers, which could be used if needed in periods of slowing demand.
"We continue to lead through product development and innovation, such as Prime, to lead the transformation of the travel industry."