Air bookings in Sabre’s global distribution system declined 1 percent year over year to 76.2 million in the second quarter, though the company noted corporate bookings were up in that period.
In an earnings call on Thursday, Sabre CEO Kurt Ekert said corporate travel volume at Sabre was up between 2 percent and 3 percent year over year in the quarter. The overall decline stemmed from “softness” on group bookings in Asia, Latin America bookings and leisure intermediary bookings in general, he said.
“Based on recent Sabre commercial wins as well as easier year-over-year comparisons, we expect year-on-year air distribution bookings growth to resume in the second half of this year and continue to build momentum as we exit 2024,” Ekert said. “Early indicators in [the third quarter] support this outlook.”
Total bookings in Sabre increased 1 percent year over year to 90.1 million, boosted by a 9 percent year-over-year increase in lodging, ground and sea bookings. Hotel bookings were up 12 percent year over year in the second quarter, and the hotel attachment rate to air bookings was up 4 percentage points to 33 percent, Ekert said.
Sabre Travel Solutions revenue increased 4 percent year over during the quarter to $695.1 million, and Hospitality Solutions revenue increased 9 percent year over year to $83.2 million. Total revenue was up 4 percent year over year to $767.2 million.
Sabre reported a net loss of $69.8 million for the quarter, compared with a $129.3 million net loss in the second quarter of 2023. Operating income for the quarter improved to $60.9 million, compared with an operating loss of $42.2 million a year prior.
