Travelport attributes ongoing gains reported in its third quarter results to non-air business as well as international growth.
The company says net revenue increased 3% to $611 million although net income saw a 78% decrease to $5 million, attributable to an “increase in the provision for income taxes.”
Revenue for the Travel Commerce Platform was up 5% to $586 million, compared to 2% in the second quarter of this year.
The figure takes into account the decrease in Technology Services revenue of $25 million following the sale of IGT Solutions earlier this year.
Beyond Air revenue, which means hospitality and services such as eNett, was up 11% to $169 million and contributed 29% of Travel Commerce Platform revenue.
Revenue for payments company eNett increased 30% to $54 million.
The company says international revenue saw a 7% increase, while APAC saw a 12% increase in revenue growth.
Travelport president and CEO Gordon Wilson says:
“Our Travel Commerce Platform delivered revenue growth of 5% for the quarter, which included revenue growth across all International regions and a particularly strong performance in Asia where we continue to gain air market share.
“Our leadership there has been further strengthened by our partnership with India’s largest OTA, MakeMyTrip, together with the signing of Traveloka, which is the leading OTA in Indonesia and will now leverage our technologies to expand across Asia.
“In Beyond Air, we continue to see good momentum in hotel and car bookings, while our commercial payments business eNett accelerated to 30% revenue growth for the quarter, driven by transaction growth with several major European and Asian OTAs.”
More to follow…