Travelport Posts Net Loss, But Positive RevPas Growth

graphTravelport Limited, a provider of transaction processing and data for the global travel industry, posted a net loss of $10 million in the first quarter ended March 31, 2013, versus a net loss of $11 million in the same period a year ago.

Results were impacted by the loss of an agreement with United Airlines, which contributed approximately $25 million to the decline in net revenue and $19 million to the decline in operating income.

Positives? The company increased RevPas by 6 percent, including a 20 percent growth in hospitality, payment processing and services revenue. 

Also, it launched an airline merchandising platform in April, signed airline agreements, extended hotel rooms offers to more than one million and expanded operations in targeted growth regions of Africa and Russia. It's also successfully completed refinancing in April 2013. 

"We are today reporting an increase in underlying revenue, a growth in underlying Adjusted EBITDA, and a significantly strengthened Travelport group balance sheet following April's successful refinancing," said Gordon Wilson, president and CEO, Travelport.

He added that the company continues to deliver on its growth strategy and the development of its business with increased hospitality, payment processing and services revenue. 

Wilson said the increase in RevPas exceeded the company's expectations and that it looks forward to the future with "continued confidence."

Travelport RevPas increased 6 percent to $5.38 for the first quarter of 2013, and the average rate of agency commissions increased 3 percent.

Headquartered in Atlanta, Georgia, Travelport is a privately owned company.