Renewed limits on social activities have dampened the pace of recovery in China; China's dominant airline IT provider TravelSky said it may record losses for the first half of year.
After 15 years of significant growth, the travel space was stopped in its tracks by the coronavirus outbreak. Now travel companies are seeking new technology to help them survive.
TravelSky Mobile Tech is seeking monetization and profitability through a series of reforms including this capital restructuring plan.
Lead-sharing, after the Covid-19 crisis, is possibly a new strategy.
Sabre needs to focus on providing “retailing, distribution, and fulfillment” services to airlines and hotels.
Moshe will split his time between the two companies, though both organizations will remain operationally independent from the other.
The worse is yet to come as Trip.com Group projected net revenue to drop by 67%-77% in Q2; TravelSky sells a stake in its consumer-facing app to China Southern Airlines.
The state-controlled giant is taking a step to better adjust to the market-based economy and explore monetization for its app unit.
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