Travelport Limited during the first quarter processed 3% fewer segments worldwide than it did in the year-earlier period, with the Americas region accounting for most of the decline, according to the company.
Processed segments in all other regions were about flat. These metrics came amid a "slight contraction in global travel trends" throughout the industry, Travelport said.
Travelport's first-quarter net loss of $10 million was narrower than the $11 million net loss posted in the prior-year period, while net revenue slid 2% to $548 million.
First-quarter adjusted earnings before interest, taxes, depreciation and amortization was down 9% to $127 million.
When excluding the impact of losing a big United Airlines contract, adjusted EBITDA was $6 million, up from $5 million in the first quarter of 2012.
President and CEO Gordon Wilson noted "an increase in underlying revenue, a growth in underlying adjusted EBITDA and a significantly strengthened Travelport group balance sheet following April's successful refinancing."
Source: Business Travel News