Travelport Limited reported its financial results for the first quarter ended March 31, including net revenue of $550 million - $19 million (4 percent) higher than the first quarter of 2011. The gain is a result of a 4 percent increase in transaction processing revenue after a 2 percent increase in segment volumes, Travelport said.
Operating Income and EBITDA were $66 million and $123 million, respectively, for the first quarter of 2012, representing a decrease of 16 percent in operating income and a decrease of 9 percent in EBITDA compared to 2011, Travelport said. Adjusted EBITDA was $140 million for the first quarter of 2012, a 5% decrease compared to 2011.
Gordon Wilson, president and CEO of Travelport, commented: "This quarter has seen significant enhancements in our geographical position in the key growth regions of Asia and Africa, as we continue to execute on our strategy. Travelport announced a major partnership with AXESS, the GDS owned by Japan Airlines, which will run on Travelport technology by late 2013, as well as the vertical integration of our franchise in Southern Africa. Financial performance was solid and in line with our expectations, and we successfully restructured our near term debt."
With a presence in over 170 countries, approximately 3,500 employees and 2011 net revenue of $2.0 billion, Travelport is comprised of the global distribution system (GDS) business, which includes the Galileo and Worldspan brands and its Airline IT Solutions business. Headquartered in Atlanta, Georgia, Travelport is a privately owned company.