Sabre reports quarterly financial results
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Travel technology giant Sabre Corporation has reported its second quarter 2016 financial results.
“Sabre second quarter results build on our growing and consistent track record of solid execution,” said Sabre president and chief executive officer Tom Klein.
“While the macro environment has offered little upside, our results demonstrate our ability to grow as we capitalise on strong demand for our airline and hospitality solutions portfolio and as Travel Network continues to expand globally.”
The company reports results in two business segments: Travel Network, a global travel marketplace that connects more than 425,000 travel agencies and travel management companies in more than 160 countries with airlines, hotels, car hire, cruise lines, tour operators and other travel suppliers across the world, and the Airline and Hospitality Solutions business, which provides technology software solutions and consulting to the global airline and hospitality industries. For the second quarter 2016, highlights included:
Travel Network revenue rose 21% with bookings growth of 24%, driven by the now wholly-owned Asia-Pacific region and incremental growth in all other regions;
In the Airline and Hospitality Solutions business, revenue increased 16%;
Strong growth in the SabreSonic reservations system that it provides to airlines around the world, with 200 million passengers boarded – a growth of 43% year-over-year. Passengers boarded growth was driven by a mix of new implementations and 6% organic growth in the existing customer base;
Growth in Airline Solutions was also driven by increased revenue from the AirVision and AirCentre solutions suites which provide airlines with tools to improve efficiency, control costs and manage change;
In EMEA, the long-term trajectory of Travel Network share gains continued with another quarter of year-over-year growth and market share gains; the company said it continued to look for opportunities to build its presence in new markets like South Africa, Spain and Turkey.
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