A majority of Travelport shareholders Friday gave the requisite go-ahead to the publicly traded company's proposed acquisition by a private equity partnership.
Travelport and Japan Airlines on June 1 plan to launch a joint venture that will bring Axess—the JAL-owned local market distribution system—and the Travelport Japan K.K. GDS business under one roof.
The number of full-time employees at global distribution system operator Travelport fell nearly 8 percent to 3,700 at year-end 2018 from 4,000 at the end of 2017, according to disclosures in the company's two most recent annual reports.
The number of agencies kicking the tires on booking, ticketing and servicing airline content through Travelport's systems in accordance with the New Distribution Capability standard has expanded.
Publicly traded global distribution system operator Travelport has agreed to be taken private by Siris Capital Group and Evergreen Coast Capital, which plan to buy outstanding common shares for $15.75 each and assume Travelport's debt in a deal valued at $4.4 billion, the company announced Monday.
A consortium that includes Siris Capital Group and Elliott Management are in late-stage talks to acquire Travelport, Reuters reported Thursday, citing unnamed sources.
In the run-up to Travelport's agreement last month to go private with Siris Capital Group and Evergreen Coast Capital, 10 different "financial sponsors" and five "strategic parties" emerged as potential suitors for the global distribution system operator or its assets.
In what is likely to be its final publicly filed earnings statement before it goes private, Travelport reported a 4 percent year-over-year decline in worldwide global distribution system segments and a modest rise in net revenue and earnings for the three months ending Dec. 31, 2018.
Global distribution system segments processed by Travelport—including air, hotel, car and rail—fell 4 percent year over year during the third quarter amid "customer headwinds," the company reported Thursday.
Last month, Air India stopped participating in the Amadeus global distribution system, and the carrier plans to limit participation in Sabre next year. The actions follow an exclusive distribution agreement Air India inked with Travelport, which will see the GDS operator, hungry for growth in India, become the sole distributor of Air India's domestic fare content in the carrier's home market.