Travelport's proposed move to return to private ownership has hit a hurdle in the shape of getting approval from the authorities in Russia.
A filing to the Securities and Exchange Commission in the U.S., to coincide with the release of its first quarter earnings this year, says the regulatory process is delaying the sale.
Travelport's takeover and return to private equity ownership, removing it from the public financial markets, is still expected to close in the first half of 2019.
Shareholder approval for the $4.4 billion takeover by Elliott Management Corporation and others was given in March this year.
The company will be under the full ownership of Siris Capital Group and Evergreen Coast Capital (part of Elliott).
After ending 2018 with over $2.5 billion in annual revenue for the first time in its history (up 4% on the previous year), net revenue during the first quarter of 2019 fell by 3% to $657 million year-over-year.
Income over the same period fell to $20 million from $59 million over the same period.
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The company's figures were hit by a decline in revenue from its distribution division, with Europe and the U.S. bearing the brunt of the losses.
Revenues from the Travel Commerce Platform took in $633 million in Q1 (down from $653 million in Q1 2018).
Growth in its Beyond Air revenues was flat ($180 million) but the continued star of the organization, its eNett payments division, posted a 12% increase to $83 million.
Travelport says it is in the process of changes to its "operating and management structure" - a program that saw $1 million in severance charges during Q1 2019.