Sabre CEO: Sabre's market share to continue growing in the future, and they have achieved recent commercial successes, including agreements with Hyatt, Air Canada, and other airlines, as well as a long-term agreement with Internova Travel Group.
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SabreAccording to Sabre’s CEO Kurt Ekert, the company’s market share in the Global Distribution System (GDS) has been increasing, and they have raised their financial targets for the full year of 2023 following a strong second quarter. In the second quarter, Sabre’s share of air bookings rose to 33.7%, up from 32.3% in the same period last year. In the first quarter, they reported 34% of air bookings, up from 31.5% in 2022.
Ekert expects Sabre’s market share to continue growing in the future, and they have achieved recent commercial successes, including agreements with Hyatt, Air Canada, and other airlines, as well as a long-term agreement with Internova Travel Group.
The company is also focusing on integrating more New Distribution Capability (NDC) content in its GDS, which they see as complementary to the existing content sources, enhancing the value proposition to both buyers and sellers.
Sabre is undergoing a technology transformation, with 73% of their total compute capacity already migrated to the Google Cloud Platform by the end of the second quarter. This migration is expected to save them around $100 million in the second half of this year and $200 million in 2024.
In terms of financials, Sabre reported a 12% year-over-year increase in revenue to $738 million in the second quarter, operating at a loss of $42 million, compared to a $70 million operating loss in the second quarter of 2022. They are now expecting better revenue results for the full year and have increased their revenue target to $2.9 billion to $3 billion. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) target has been raised to $340 million from the previous range of $300 million to $320 million.
