Sabre reported a 3% decline year over year in air bookings during the first quarter, below prior expectations, but the travel technology company is holding on to its projection for double-digit percentage growth in bookings full the full year.
The decline in air bookings was three to four percentage points lower than Sabre’s previous expectations of flat to nominal growth for air bookings in the first quarter, Sabre CEO Kurt Ekert said in an earnings call on May 7.
He said the decline stemmed from “a broad softness globally” that “spanned corporate, leisure, pretty much all channels.” In particular, inbound travel to the U.S. from Canada and certain European markets was down, as were group bookings from North Asia. U.S. military and government bookings were down about 30% year over year, he said.
Ekert said Sabre is seeing “recent improvements in general market trends,” and the company projects low-single-digit percentage growth in air bookings for the second quarter. For the full…
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