Travelport profits rise in Q3

Travelport profits rise in Q3

Travel technology company sees 5% rise in revenue and profit

Travel technology company sees 5% rise in revenue and profit

Travelport's president & CEO, Gordon Wilson
Travelport’s president & CEO, Gordon Wilson

Travelport has posted a strong set of results for the third quarter of the year, with rising revenues and profits.

The technology company, which operates the Galileo, Apollo and Worldspan GDS, generated adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of US$128 million in the three months to 30 September 2013, up 5% compared to the same period in 2012. This was driven by a 5% increase in revenue, which reached US$511m.

“We have delivered 5% growth in both revenue and adjusted EBITDA for the quarter,” said Travelport’s president & CEO, Gordon Wilson. “We look to the future with confidence.”

The quarterly 5% growth was mirrored in the company’s year-to-date results. In the first three quarters of 2013, Travelport’s revenue grew 5% to almost US$1.6 billion, while adjusted EBITDA climbed 5% to US$408m.

An agreement with United Airlines contributed approximately US$27m of the company’s net revenue in the nine-month period, while Travelport said it had also “gained significant momentum” with its air merchandising platform, adding several new low-cost carriers. It also delivered a new Japanese GDS for Japan Airlines.

Mark Elliott
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Mark Elliott
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