Air bookings in Sabre's global distribution system declined 1% 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 Aug. 1, Sabre CEO Kurt Ekert said corporate travel volume at Sabre was up between 2% and 3% 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% year over year to 90.1 million, boosted by a 9% increase in lodging, ground and sea bookings. Hotel bookings were up 12% 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% to $695.1 million, and Hospitality Solutions revenue increased 9% to $83.2 million. Total revenue was up 4% 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 improved to $60.9 million, up from an operating loss of $42.2 million a year prior.
Source: Business Travel News