Travelport ‘remains on track’ as Q2 loss improves
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Travelport has said it is on track to reaching its strategic goals after improving its Q2 losses.
The travel technology company saw its EBITDA improve to US$146 million (GBP86m) for the three month-period and improved its loss from –US$15m (GBP8.9m) in Q2 2013 to –US$9m (GBP5.2m) in Q2 2014.
The firm also posted a 4% boost in net revenue for the quarter, which saw Travelport develop its Beyond Air offering and reach 50 airlines for its new Rich Content and Branding option.
Before announcing the results Travelport revealed it has taken a 49% stake in corporate travel technology platform Locomote while last week it secured a 73% stake in eNett International. The company also now owns Hotelzon.
“The first half of 2014 has been a significant one for Travelport. We have not only demonstrated continued financial growth and strong operating performance, but we have also made a number of targeted strategic investments in Beyond Air to extend this growth, specifically in all of the payments, corporate travel and hotel distribution aspects of our Travel Commerce Platform,” said Travelport’s president and CEO Gordon Wilson.
“Additionally, we entered into a new long-term agreement with Delta Air Lines for the provision of hosting services for two of their critical airline operating systems. From a capital structure perspective, we have concluded deleveraging transactions of almost $1 billion through a series of debt for equity deals and the sale of the majority of our shares in Orbitz Worldwide. Our business is now even stronger and we remain firmly on track to deliver our strategic goals,” he added.
Comments are closed.