Travelport GDS business declining 9% in Q2
August 14, 2008: Thanks to the continue strong perfomance of GTA (26% revenue increase), Travelport was able to grow adjusted net revenue by 1% and adjusted EBITDA by 8% in the second quarter.
Travelport Limited, the parent company of the Travelport group of companies, today announced its financial results for the quarter ended June 30, 2008. Travelport recognized net revenue and adjusted net revenue of $703 million for the second quarter of 2008, representing a (2%) decrease and 1% increase, respectively, over the same period last year. Travelport achieved EBITDA of $187 million and adjusted EBITDA of $203 million in the second quarter of 2008, representing an increase of 55% and 8%, respectively, over the same period last year.
Travelport CEO and President, Jeff Clarke, stated: “Travelport’s results in the second quarter of 2008 continue to show the resiliency of our business even during a difficult operating environment. The softness in the first quarter accelerated into the second quarter with total GDS segments declining 9% year-over-year. GTA continued to perform well and grew net revenue 26% in the quarter. Travelport was able to grow adjusted net revenue 1% and adjusted EBITDA 8%. Excluding the impact of Worldspan, Travelport grew adjusted net revenue and adjusted EBITDA by 4% and 16%, respectively.”