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Travel Content Leadership
-First Quarter 2014 Results-
Atlanta, GA, May 8, 2014 Travelport is a travel commerce marketplace providing distribution, technology, payment and other solutions for the $7 trillion global travel and tourism industry.
Commenting on developments, Gordon Wilson, President and CEO of Travelport, said:
As we celebrate the one year anniversary of our merchandising platform, I am pleased we have further strengthened our air proposition with the signing of new ground-breaking agreements with Ryanair and AirAsia, an extended partnership with easyJet, and over thirty airline agreements for our Rich Content and Branding functionality. Through these unrivalled agreements, we are now uniquely positioned to sell the content of all the worlds top ten airlines. This milestone builds on our leadership in global hotel content distribution and augments our strong financial performance.
|||Net Revenue +4% and Adjusted EBITDA +7%|
|||Unrivalled content added to our Travel Commerce Platform:|
|||Uniquely distributing content from all the worlds top ten airlines|
|||One year anniversary of Travelport Merchandising Platform marked by:|
|||New agreements with Ryanair and AirAsia and an extended partnership with easyJet|
|||Over 30 airlines signed for Rich Content and Branding functionality, including British Airways / Iberia and Air China|
|||Expanded hotel content leadership now offering 580,000 unique properties|
|||Improvement of capital structure with deleveraging $135 million debt-for-equity exchange transactions completed in March|
During the first quarter 2014, we realigned our reporting to better reflect our underlying operations to enable travel commerce through our platform. As a result, we are reporting Adjusted EBITDA and Adjusted Net Income as key non-GAAP performance metrics, as defined on page 12, and presented in the table below:
|(in $ millions)||Q1 2014||Q1 2013||$ Change||% Change|
Net Income (Loss)
Adjusted Net Income
Further, we have added Adjusted Free Cash Flow and Adjusted Unlevered Free Cash Flow to our cash flow reporting metrics on page 7 as also defined on page 12. We are also reporting a split of our Revenue into Travel Commerce Platform revenue, including our Air and Beyond Air revenue, and Technology Services revenue in the table on page 8 with three year historical information provided on page 9.
The following information was filed by Travelport Ltd (TVPL) on Thursday, May 8, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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