Kiwi.com Business Update
- Kiwi.com sees strong recovery as restrictions gradually lift across the globe and travel confidence returns
- April 2022 bookings surge 165% ahead of pre-pandemic levels as travel confidence returns bringing Kiwi.com all time record booking numbers ahead of management’s expectations
- 2021 Results in line with management’s expectations with a 46% year on year increase in total group gross bookings and 30% increase in total group revenue
28 April 2022 – Over the past two years Kiwi.com has continued to invest into its unique technology and its people, albeit in a challenging trading environment, and is now seeing very exciting returns on its investment as the recovery in global air travel materialises. Bookings growth continues to track higher and in April reached 165% ahead of pre-pandemic levels including an all time record of over 80,500 booked seats in a single day.
Kiwi.com co-founder and CEO, Oliver Dlouhy, commented: “At Kiwi.com our purpose is to harness the power of technology and innovation to connect people and cultures through travel and with the pandemic restricting movement during 2020 and into 2021 it has of course been a very difficult period. With this explosive growth in April a corner has now been turned and the positive impact of the continued recovery in air travel, underpinned by our unique technology and disciplined cost management, means the company is well positioned to have a record year.”
In 2021, the Company processed around 70% of the number of bookings made in pre-pandemic 2019, which represented around half of the total group Gross Booking value of 2019. Gross Bookings were €206.5 million higher than in 2020, representing a 46% increase, and total group revenues in 2021 rose by €25.0 million to €109.2 million, a 30% increase compared to the prior year.
“2021 results were in line with expectations with a positive EBITDA performance for the full year. The impact of the COVID-19 pandemic continued to weigh heavily on air travel in the first half of 2021 with tight border controls and air travel restrictions. Confidence started to return ahead of the summer period and gradually improved throughout the second half as vaccination programmes took hold and restrictions were lessened or lifted in the majority of markets.” said, Kiwi.com CFO, Iain Wetherall
Commenting on 2022, he added: “The first quarter of this year has been extraordinary, beginning with moderate air travel in January as the Omicron variant led to new restrictions. Bookings took off in February and grew further in March, underlying the pent-up demand for air travel. As we enter the second quarter we are seeing an acceleration in summer bookings well in excess of pre-pandemic levels in 2019 to record numbers, which gives us confidence that this will be a strong summer for Kiwi.com so long as travel restrictions continue to be relaxed.”
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Kiwi.com is a leading travel tech company headquartered in the Czech Republic, employing over 1,000 people worldwide. Kiwi.com’s innovative Virtual Interlining algorithm allows users to combine flights across legacy and low-cost airlines into one single itinerary. Kiwi.com performs 2 billion price checks per day across 95% of global flight content enabling customers to find better route options and prices other search engines can’t see. Fifty million searches are carried out every day on Kiwi.com’s website and over 40,000 seats are sold daily.