Travelport first quarter shows slight upturn

Travelport first quarter shows slight upturn

Galileo and Worldspan parent Travelport achieved a marginal $7 million rise in first quarter operating profits to $79 million over the first three months of 2010.

The figures for the period ending March 31 do not include the $720 million sale of Gullivers Travel Associates (GTA) business to Kuoni in a deal completed earlier this month.

The first quarter saw Travelport revenue dip from $536 million to $531 million with adjusted EBITDA up to $147 million from $142 million a year earlier.

The period saw the company sealing “ground-breaking” merchandising agreements with Air Canada and British Airways and the signing of a global Travelport Universal API agreement with Hogg Robinson Group.

President and chief executive Jeff Clarke said: “I'm pleased with Travelport's Q1 growth in operating income and cash flow given the market and industry headwinds.

“Travelport continues to invest in new and innovative travel distribution technologies, including our Travelport Universal API, Travelport Universal Desktop and Travelport ePricing products.”


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