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Sabre projects 'solid' but 'conservative' growth in travel demand

08/12/2023| 10:16:38 AM| 中文

Over the first half of this year, Sabre has doubled the number of airlines distributing New Distribution Capability content through the Sabre marketplace.

Sabre said its second quarter results "exceeded expectations," and the company is raising its guidance for 2023 accordingly.

The company reported a 12% increase in revenue to $738 million for Q2 2023. Sabre's net loss for the period was $129 million, an improvement on a loss of $193 million in Q2 2022, while adjusted EBITDA was $73 million.

Sabre's operating loss was $42 million compared with $70 million year over year with the company attributing the improvement to an increase in travel bookings. However, it added that incentive expenses in the travel solutions unit, transaction-related costs in hospitality solutions and a $59 million restructuring charge to do with employee redundancies impacted the improvement.

During its Q1 2023 earnings report in May, Sabre announced a repositioning alongside a cost savings plan, including a reduction in head count of around 15%.

Travel solutions revenue increased 12% to $671 million in Q2, and distribution revenue increased 23% to $530 million.

IT solutions revenue dipped 16% to $140 million and hospitality solutions revenue increased by 16% to $77 million.

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TAGS: Sabre | financial result | 2023 Q2
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