Travelport has turned in its best results in five years as it reports its financial results for Q4 and full-year 2016.
Highlights for the year from the distribution giant include a 64% net revenue increase to $150 million for its eNett commerce payments business and an 18% boost to revenue of $579 million for Beyond Air.
Beyond Air made up 26% of the company’s Travel Commerce Platform, a three percent increase on 2015.
Meanwhile, air revenue increased 3% to $1.65 billion. The company says it has now stabilised the air element of the business with gains in share in Latin America and Asia Pacific as well as a gain in Q4 in the US.
Interesting to note that India will become the second biggest market for Travelport this year after the US. According to 2016 data, Germany accounted for 56.6 million air bookings while India was 53.6 million.
Speaking to Tnooz, President and CEO Gordon Wilson says that in January 2017, India was up 16%.
For the company as a whole, net revenue increased 6% to $2.35 billion.
Wilson says the progress is down to Travelport’s ongoing strategy in three areas – differentiation through content, mobile travel and commercial payments and derisking the business.
He adds there are clear areas where the strategy is working and the company will “double down on investment in these areas.”
The company’s airline merchandising system is now implemented with 210 airlines with 230 signed up.
The eNett payments business is expected to see further growth of at least 20% in 2017. It will also increase the number of products it provides beyond the current pre-funded virtual cards whether through its own branded products or via partners.