[Travel News]: Sabre revenue slides 37.2% in Q1 2020
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The following is the [Travel News]: Sabre revenue slides 37.2% in Q1 2020 from [Phocuswire] recommended by TheTourAttraction.com:
The company adds that it has more than 18 months of liquidity available at a zero booking rate.
A rapid decline in airline and hotel bookings has led Sabre to post a major fall in revenues for the first quarter of 2020, with revenue down from USD 1.05 billion in the first quarter of 2019 to USD 659 million this year.
Sabre posted a loss of USD 213 million in the first three months of 2020, flipping from a USD 57 million profit in Q1 2019. The hardest hit area of the business is the core global distribution system, with revenue down by 45% year-over-year to USD 428 million.
Some 85% of the company’s revenue is tied directly to transaction volumes. New bookings fell by 70% year-over-year in March, it says. The company adds that it has more than 18 months of liquidity available at a zero booking rate.