Travelport sees modest increase in income for third quarter

Travelport Worldwide has reported a net revenue increased of two per cent for the three months to September 30th, to $623 million.

Net income for the period increased 25 per cent to $6 million, while adjusted EBITDA increased two per cent to $139 million.

Shares in the company slipped more than five per cent following the release of the figures.

Gordon Wilson, chief executive of Travelport, commented: “The continued strong performance of Beyond Air, driven by our virtual payments business eNett, helped us overcome the more challenging market and customer environment we anticipated for the second half of the year.”

Travel Commerce Platform revenue increased two per cent to $598 million.

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Beyond Air revenue increased 14 per cent to $193 million, contributing 32 per cent of Travel Commerce Platform revenue.

eNett net revenue increased 58 per cent to $86 million.

Wilson added: “In the quarter, we continued to build the business in line with our strategy.

“Our Travel Commerce Platform delivered further business successes, especially in the regional corporate and online sectors where we are clearly benefiting from the investments we are making in the quality of our content and the capabilities and efficiency of our technology.

“We also strengthened our value proposition by concluding long-term deals to distribute the content of Air India and Jet Airways, in both cases as the preferred distributor.

“These add to our exclusive distribution contract with IndiGo and give us significant additional advantage in India and key markets beyond it.”