Beyond Air helps Travelport through “challenging” quarter
By cameron in Uncategorized
Travelport says its non air business helped it face challenging market conditions in its latest financial report.
In Q3 results, the distribution giant says Beyond Air, which includes its eNett payments business, helped it deliver a 2% increase to net revenue of $623 million for the quarter.
The company’s EBITDA also increased 2% to $139 million while net income was up 25% to $6 million.
The Travel Commerce Platform saw a 2% revenue increase to $598 million, 32% of which is attributed to Beyond Air which saw a 14% increase to revenue of $24 million.
Air revenue declined 3% to $13 million for the quarter which Travelport attributes to a dip in air reported segments following the loss of a large agency in the APAC region and “other travel agency headwinds.”
The eNett payments business delivered a 58% increase to net revenue of $86 million.
In a statement, Travelport president and CEO Gordon Wilson refers to “specific customer headwinds” which are affecting the company.
He adds that the company is in a good place for “longer term profitable growth” based on deals, such as with Air India and Jet Airways, and technology and content investment around merchandising, mobile, data and payments.
Travelport believes full-year 2018 net revenue will come out at the lower end of its 4% – 6% guidance range.
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