Spanish online travel booking company eDreams said today it turned to profit in 2023 as its subscription programme helped it fully recover from three years of losses due to pandemic-linked restrictions.
In the long term, eDreams said it foresees "significant growth potential" beyond fiscal year 2025.
The Barcelona-based firm, whose fiscal year ends in March, reported a net profit of €32.4m compared with a loss of €43.3m in the preceding year.
The company was also in the red in 2020 and 2021 as aviation authorities in the world ground the industry to a halt amid the pandemic.
eDreams' subscription programme, for which it charges an annual flat fee of about €55 for access to lower fares, was the main driver of profits. The number of subscribers rose to 5.8 million in 2023, up 34% from the previous year.
The company said it was on track to meet its targets of €180m in core earnings and 7.25 million subscribers by 2025.
"While our Prime member penetration is rapidly increasing, it still remains relatively low in our major markets, indicating ample room for further growth," said CEO Dana Dunne in a statement.
