eDreams ODIGEO reports continued strong trading after ceasing its operations in Russia and Belarus

eDreams ODIGEO reports continued strong

 trading after ceasing its operations

 in Russia and Belarus

 

 

eDreams ODIGEO - Europe's largest online travel company, the largest globally in terms of flights outside of China and one of the largest European e-commerce businesses, today provided an update on its trading following its decision to cease operations in Russia and Belarus on February 28th in response to the ongoing Russian aggression against Ukraine. 

eDreams ODIGEO is deeply saddened by the tragic events that continue to unfold in Ukraine and stands with all those who are suffering. eDreams ODIGEO earnestly hopes for a quick resolution to the conflict and a return to peace.

Whilst the Company only had a very small business in Russia, representing just 0.03% of its worldwide Bookings and 0.3% across Eastern Europe as a whole, on Monday 28 February, it ceased all operations in Russia and Belorussia and closed its Russian website and app. In addition, at that time, the Company removed all Russian and Belorussian airlines from its inventory and banned all transactions made from these countries as well as all local payment methods. Exceptionally, and with the aim of enabling the safe return of those travellers stranded in the region, eDreams ODIGEO did continue to temporarily process a limited number of bookings with the restricted number of non-Russian/Belorussian airlines that were still able to operate in the region according to all applicable global sanctions. The Company now considers that it has already provided the necessary assistance to the relevant affected travellers in the area and has, therefore, ceased all sales of travel into and out of Russia and Belarus by any route on any airline.

eDreams ODIGEO is one of the world's largest online travel companies and one of the largest e-commerce businesses in Europe. Under its four leading online travel agency brands – eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo – it serves more than 17 million customers per year across 45 markets.

Despite the tragic conflict in Ukraine, the Company continues to experience strong trading delivering similar trends to those outlined in the Q3 financial results statement on 25 February, which included a trading update. Regarding most recent trading:

February:  the month closed with Bookings 31% above pre-COVID 19 levels, and

March (up to the 10th of March): Bookings stood 39% above pre-COVID levels and over 10 days of trading achieved over 461.000 Bookings, 8% above the daily average of October 2021, the best month in Bookings ever in its history.

eDreams ODIGEO continues to see strong performance and continues to outperform the market as it has consistently done since the beginning of the pandemic. The Company is reinventing travel through its market-leading, highly successful and rapidly growing subscription model Prime. eDreams ODIGEO's growth and development is supported by a strong balance sheet and state of the art proprietary platform and systems infrastructure.

Dana Dunne, Chief Executive Officer, said: "As a company that helps people discover their world and expand their horizons through travel, we firmly believe in the immense potential that travel has as a tool for bringing together the world's diversity of people, cultures and values. Mutual understanding, respect and human connection are among the core pillars of travel and we will continue to defend these together with all of our values. We stand with all those who are suffering. I am proud of how our business has responded to this conflict by doing what is right, and am moved by the exceptional response of all our team members who have been working tirelessly to help all those in need." 

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