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Travelport Limited, a leading provider of critical transaction processing for the global travel industry, announces its financial results for the first quarter ended March 31, 2011.
Financial Summary: ($ in millions)
- Net Revenue – Q1 2011: $531 (2010: $536)
- Operating Income – Q1 2011: $79 (2010: $72)
- Adjusted EBITDA – Q1 2011: $147 (2010: $142)
- Cash generated by continuing operations – Q1 2011: $61 (2010: cash used of $21)
Operational Highlights:
- Announced ground-breaking merchandising agreements with Air Canada and British Airways
- Signed global Travelport Universal API agreement with Hogg Robinson Group
- Secured numerous contract renewals
Post Quarter End Highlights:
- Completed sale of GTA business
- Repaid $655 million of indebtedness
- Signed merchandising agreement with Qantas
Commenting on developments, Jeff Clarke, President and CEO of Travelport, 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.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
