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Spain's eDreams sees future rebound in bookings on vaccine hopes, loss narrows

MADRID, Nov 19 (Reuters) - eDreams Odigeo said on Thursday its loss narrowed in the quarter to September and added it expects its bottom line to improve in the coming quarters after recent upbeat news on COVID-19 vaccines.

The Spanish online travel group’s net loss in the quarter, the second of its financial year, narrowed to 20.7 million euros ($24.53 million) from 24.4 million euros in the previous quarter.

The slump of bookings due to COVID-19 restrictions slowed down to a 62% contraction versus 87% in the three previous months and eDreams expects further improvements as vaccine developments augur an end to the crisis.

“Pfizer and Moderna announcements bring forward scenarios of travel returning sooner in 2021. Introduction of a vaccine likely to result in a sharp rebound again, as suggested in latest surveys and analysis from IATA Economics,” it said in a statement.

$1 = 0.8440 euros Reporting by Jose Elías Rodríguez; editing by Inti Landauro

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