BTN Europe presents an overview of business travel and MICE predictions for this year
Thursday 9th September, JW Marriott Grosvenor House
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The Worldspan and Galileo Global Distribution Systems (GDSs) business reported a $587 million profit before tax for 2010.
The figure represents a 7% fall in profits compared to the previous year.
In 2009 the Travelport-owned GDSs made a $628 profit before tax, $41 million more than in 2010.
Travelport also owns Orbitz, for which the technology and travel services company recorded an annual loss of $38 million for 2010, which was due to heavy investment in the business.
As a whole, Travelport recorded a profit before tax of $629 million, a $3 million decrease on for 2009.
This figure included $84 million in profit before tax from Gullivers Travel Associates (GTA), a 42% increase on 2009. Travelport has recently announced plans to sell GTA to leisure travel firm Kuoni.
Jeff Clarke, president and CEO of Travelport, said 2010 was a year of investment in new technologies and emerging markets.
“We have a solid pipeline of customers for Travelport Universal Desktop and are already seeing the benefits from our industry leading Travelport Universal API priduct set,” he said.
“The strong cash flow performance of the company supports continued investment while also allowing us to opportunistically improve our capital structure.”