Travelport Puts Good First-Quarter Revenue Numbers on the Board

Travelport Ltd. narrowed its net loss to $27 million in first-quarter 2008, from a $32 million loss in first-quarter 2007; first-quarter net revenue was flat year-over-year, at $666 million.

The company, parent of the Worldspan and Galileo GDSs, Orbitz Worldwide and others, reported $145 million in earnings before interest, taxes, depreciation and amortization, a 39 percent gain over the first quarter of last year.

Adjusted net revenue, which excluded Orbitz Worldwide but included Worldspan in all periods, as if both transactions had taken place in January 2007, declined by 2 percent, from $683 million in the first quarter of 2007.

Adjusted EBITDA was $173 million, a decline of 7 percent from the same period last year. Travelport attributed the decline to Worldspan’s loss of business segments from Expedia prior to Travelport’s acquisition of Worldspan last year.

The company said cost savings from a re-engineering of Travelport’s business came at an annual run rate of $172 million. Cost savings from synergies resulting from Worldspan’s integration with Galileo were on track, the company said, with annual run rate savings at $47 million.