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Travelport Reports Revenue GainsMarch 22, 2012 By: George Dooley Travel Agent
Travelport has reported its financial results for the fourth quarter and full year ended December 31, 2011. Results include net revenue in the 4th quarter of 2011 of $465 million compared to 2010's $452 million. Operating income hit $4 million compared to $45 million in the 4th quarter of 2010.
For the full year Travelport said its net revenue hit $2,035 million compared to 2010's $1,996 million while operating income for 2011 was $200 million compared to 2010's $274 million.
Among the year-end highlights cited by Travelport are expanded hotel booking engine content, significantly expanded geographic footprint in Africa and the launch of mobile travel itinerary application for iPhone and Android.
"2011 financial results were in line with expectations. Total transaction value for air travel and hotel sales was 6 percent higher at $83 billion, and we launched and deployed four significant, innovative new products designed around our new technology platform. We are making excellent progress on our strategic plan, delivering the broadest possible travel content for suppliers and travel agency customers to buy, sell and promote," Gordon Wilson, president and CEO of Travelport, said.