Travelport records net revenue increase of 4%
Travelport reported a solid first quarter, led by its Beyond Air portfolio, particularly its travel payment solutions
company eNett, which had an 81% increase in revenue. Travelport reported a net revenue increase of 4%, to USD 678 million. Net income increased 6%, to USD 59 million. The travel commerce platform increased 5%, to USD 653 million, while the technology services portion of its business saw a 12% decrease in revenue to USD 25 million.
The Beyond Air portion of Travelport’s business saw a revenue increase of 22%, to USD 180 million, contributing 28% of the revenue. Beyond Air’s revenue increase was largely because of eNett’s revenue increase of 81%, to
USD 74 million. eNett uses virtual account numbers (VANs), automatically generated MasterCard numbers, that can be used to make payments; unique numbers are used for each transaction, making VANs a secure form of payment.
Gordon Wilson, President and CEO, Travelport termed eNett’s first-quarter results a standout performance. Reportedly, eNett’s revenue came from an increase in the volume of payments settled with existing customers.