Saber recorded revenue gains in its travel solutions, distribution, IT solutions and hospitality for the first quarter of 2022.
The company’s total revenue was $585 million versus $327 million year-on-year, with an operating loss of $80 million versus a loss of $203 million in the first quarter of 2021 .
Net income was reported at $42 million, which was boosted by the sale of AirCentre as well as higher travel solutions incentives and hospitality solutions transaction costs, compared to the net loss of $266 million in the first quarter of 2021.
Sean Menke, CEO and Chairman of the Board of Saber, said, “We are encouraged by the upward trends in our business and have seen consistent sequential improvements in the volume of key metrics week-over-week since mid-January 2022.
“After a slow start in January due to the Omicron variant, travel recovery picked up sharply and bookings in April ended at the highest level of recovery from 2019 since the onset of the COVID-19 pandemic. 19. The overall improvement in each global geographic region was particularly positive, supported by a significant return to more profitable international and business travel.
“In addition, we continue to make progress toward our technology transformation goals, which should deliver significant cost savings and expand revenue opportunities.”
Revenue from the Travel Solutions business grew 85% to $534 million, driven by increased air and broader travel bookings as the industry recovers from the pandemic.
Distribution revenue increased 126% to $343 million, helped by industry recovery and an increase in average booking fees.
Global net bookings, less cancellations, were 65 million passengers, representing 42% of 2019 levels. IT Solutions revenue increased 39% to $191 million, driven by the recovery in the number of passengers boarded.
Hospitality Solutions revenue increased 33% to $56 million, driven by higher central reservations system transactions.
The company says central reservation system transactions, which were at 100% of 2019 levels, increased 31% to 23 million in the first quarter of 2022.