TravelSky grows aviation IT revenues by 8.6% in 2019
03/30/2020|2:45:53 PM|ChinaTravelNews

Chinese airline information technology provider TravelSky said its revenue amounted to RMB 8,121.7 million in 2019, up by 8.7% over year 2018. Profit attributable to owners of the company grew 9.4% to RMB 2,542.9 million.

Revenues from aviation information technology services amounted to RMB 4,517 million last year, up by 8.6% and accounting for 55.6% of the company's total revenue.

System integration service revenue rose 23.3% to RMB 1,168.0 million for 2019, accounting for 14.4% of TravelSky’s total revenue in the year.

In 2019, the company’s Electronic Travel Distribution (ETD) system processed 689.3 million system capacity on domestic and overseas commercial airlines, representing an increase of 7.1% over the same period in 2018.

Among that, the processed system capacity on commercial airlines in China increased by 6.9%, while those on foreign and regional commercial airlines increased by 10%.

The number of foreign and regional commercial airlines with direct links to the CRS systems of the company reached 151, with sales percentage through direct links exceeding 99.8%.

There were around 1,071.9 million transactions processed with TravelSky’s accounting, settlement and clearing system and approximately 432.8 million BSP tickets processed with its BSP data processing services.

Passenger, cargo and mail revenue, miscellaneous fees as well as international and domestic clearing amount settled by agents exceeded USD 11.55 billion, and the transaction amount of the electronic payment system was around RMB 115.09 billion.

The company’s travel service distribution network comprises over 70,000 sales terminals owned by more than 8,000 travel agencies and travel service distributors, with direct links and high-level networking to all Global Distribution Systems around the world and 151 foreign and regional commercial airlines through SITA networks, covering over 400 domestic and overseas cities.

As of December 31, 2019, cash and cash equivalents of the Group amounted to RMB 4,546.8 million, of which 92.8%, 5.8% and 0.5% were denominated in Renminbi, U.S. dollar and Hong Kong dollar, respectively. As of December 31, 2019, the total number of employees of the Group was 7,476.

TravelSky reported earlier that international volume processed by domestic airlines dropped by 39.29% to 9.97 million in January-February, while domestic volume by domestic airlines declined by 43.99% to 52.36 million during the time.

Total volume processed by international or regional airlines plummeted by 66.04% to 1.14 million in the first two months of the year.