Travelport sees no major impact on travel as a result of an economic slowdown, according to a report from Reuters. (1/23/2008)
Company´s President and CEO Jeff Clarke mentioned that travel does respond to changes in economic growth, but price cuts have helped maintain volumes. "As an intermediary in the industry we get paid primarily on the transaction," he said. "Consumers tend to be very price elastic and so, when prices go down, more consumers travel. We´ve seen some decreases in prices and that has increased certain volumes. So we have not seen a material slowdown in travel yet."
Clarke declined to comment on whether Blackstone was proceeding with a plan to list Travelport on the London Stock Exchange this quarter, a move that could raise about $2 billion.
