Sabre Corp sees travel recovery broadening
Reuters
Published Mar 30, 2022 02:05PM ET
Updated Mar 30, 2022 02:27PM ET
(Reuters) - Sabre (NASDAQ:SABR) Corp on Wednesday reported continued gains in leisure travel through March and the travel booking software provider said international and corporate bookings have accelerated since the start of the year.
Sabre is the latest company to report improved booking patterns as travelers take summer and spring vacations after the pandemic disrupted previous travel plans.
"We expect the March 2022 recovery versus the same period in 2019 for both international and corporate bookings to be at their highest levels since the pandemic started in mid-March 2020," the company said in a regulatory filing.
To date, the recovery has broadened, with all regions showing strong improvement from January, it said.
The company reported gross air bookings are up to about 48% in March 2022 compared to the same period in 2019. Net air bookings and passengers boarded also recovered at 50% and 76% respectively. Gross hotel central reservation transactions recovered about 105%.
Sabre also said revenue generated in Russia in 2019 represented a low-single digit percentage of Sabre’s total 2019 Travel Solutions revenue, its travel business unit. The company terminated it's distribution agreement with Russian airline Aeroflot in early March.
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Written By: Reuters
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