May 13, 2013

Travelport posts net loss, but positive RevPas growth

Travelport Limited posted a net loss of $10 million in the first quarter ended March 31, 2013, versus a net loss of $11 million in the same period a year ago. Results were impacted by the loss of an agreement with United Airlines.

The company increased RevPas by 6 percent, including a 20 percent growth in hospitality, payment processing and services revenue.

Also, it launched an airline merchandising platform in April, signed airline agreements, extended hotel rooms offers to more than one million and expanded operations in targeted growth regions of Africa and Russia. It's also successfully completed refinancing in April 2013.

"We are today reporting an increase in underlying revenue, a growth in underlying Adjusted EBITDA, and a significantly strengthened Travelport group balance sheet following April's successful refinancing," said Gordon Wilson, president and CEO, Travelport.

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