Egencia bookings continue steady ‘09 comeback
November 03, 2009 |
Egencia's gross bookings decreased 10 percent year-over-year to $344 million in the third quarter, but its top-line performance has steadily improved since the second half of 2008.
During the quarter, which ended Sept. 30, Egencia earned $27 million in revenue, a 1 percent increase compared with the third quarter of 2008 and flat compared with the second quarter of 2009.
Egencia hit its peak performance numbers in the second quarter of 2008, with $30 million in revenue and $421 million in gross bookings, before sharply falling in the following two quarters as the recession set in, settling at $315 million in the fourth quarter. Gross bookings increased to $321 million and $330 million in the first and second quarters of 2009, respectively.
Egencia's positive news joins last week's American Express third-quarter earnings report, which showed stable corporate travel sales, and today's U.S. Department of Commerce announcement that the country's gross domestic product increased for the first time since the second quarter of 2008.
Get the full story at BTNonline
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