Galileo, Worldspan and GTA parent Travelport has seen a small drop in third quarter profits.
Travelport Q3: Revenue up, but profits suffer small dip
Galileo, Worldspan and GTA parent Travelport has seen a small drop in third quarter profits.
The company reported adjusted EBITDA of $175 million, marginally lower than $178 million recorded for the same period last year.
This came on a 2% rise in net revenue to $582 million.
The company achieved operating income of $104 million, compared to an operating loss of $740 million for the same three months last year.
Adjusted EBITDA for the first nine months is $490 million, down from $494 million in the same period in 2009 based on net revenue up by 3% to $1,761 million.
CEO and president Jeff Clarke said: “Overall, in Q3 we have seen slightly lower than anticipated growth in our GDS business.”
GDS quarterly EBITDA was down by $17 million to $145 million.
Wholesaler subsidiary GTA had a “great quarter” delivering 29% growth in adjusted EBITDA to $40 million.
Discussing the quarterly results, Clarke added: “We continue to invest strongly in innovative new products and geographic expansion.”
