Orbitz Reports 17 Percent Rise in Bookings, 3 Percent Boost in Net Revenues

Orbitz Worldwide said global gross bookings in the second quarter increased 17 percent year over year, mainly due to higher air fares and higher transaction volume. Air gross bookings increased 21 percent (22 percent on a constant currency basis) and non-air gross bookings increased seven percent (six percent on a constant currency basis) year over year. Domestic gross bookings increased 17 percent and international gross bookings increased 19 percent (20 percent on a constant currency basis) year over year.

Net revenue was $193.5 million for the second quarter 2010, an increase of three percent year over year, mainly due to an increase in standalone hotel and international air transactions as well as higher travel insurance revenue. These increases were partially offset by lower airline hosting and advertising revenue.

Domestic net revenue was up 2 percent while international net revenue increased 8 percent. “Orbitz Worldwide’s second quarter results significantly exceeded our adjusted EBITDA expectations, increasing 7 percent year over year to $48.1 million. We posted solid year over year improvements in gross bookings, transactions, and hotel room nights,” said Barney Harford, Orbitz’s president & CEO.