Sabre Corporation trimmed net losses for the first quarter of the year to $2.8 million from $15.8 million in the same period in 2013.
Sabre trims Q1 net losses to $2.8m
Sabre Corporation trimmed net losses for the first quarter of the year to $2.8 million from $15.8 million in the same period in 2013.
Travelocity revenues declined as planned due to the 2013 business model change at Travelocity North America, which is expected to result in a more stable and profitable business going forward, the company said.
Results were also impacted and revenues reduced, by the sale during the quarter of the Travelocity Partner Network business.
These changes resulted in Travelocity revenues dropping to $94 million against $143 million in the first quarter of 2013.
Sabre Airline and Hospitality Solutions and Travel Network adjusted earnings (EBITDA) increased 30.8% and 2.2%, respectively.
Solid bookings and revenue growth resulted in Travel Network first quarter adjusted EBITDA of $215 million, up from $210 million in the same period a year ago.
Sabre president and chief executive Tom Klein said: “Global travel industry growth was very healthy in the first quarter with our airline and hotel customers experiencing solid demand.
“Against this backdrop, Sabre’s portfolio of software and technology solutions, which are the broadest and deepest in the industry, continued to deliver value across the travel ecosystem.
“Our relentless focus on delivering value and innovation to our customers delivered first quarter performance ahead of our plan.
“Looking ahead, we expect to meet or exceed our guidance for 2014 and are positioned well to grow our businesses in the years to come.”
