China's aviation technology giant Travelsky has released financial and operational details for the first half of 2017.
The business is growing in line with the overall Chinese aviation sector, which comes as little surprise as it is the dominant player in the market courtesy of its de facto monopoly when it comes to airline, aviation and airport IT. Most of the familiar western travel tech players are active in China, invariably in partnership with Travelsky rather than on a standalone basis.
Its so-called "Electronic Travel Distribution" system, which includes its inventory control and computer reservation systems, processed more than 280 million flight bookings on domestic and overseas commercial airlines, almost 12% up on the same period last year.
The growth is broken down into a 12% increase from Chinese carriers and more than 5% from foreign and regional commercial carriers.
The number of foreign and regional commercial airlines with direct links to its CRS increased to 143.
Despite, or perhaps because of, its dominant position, Travelsky is working on a number of projects which are designed for China but which can be rolled out overseas. It has built a commonly used self-service check-in system (CUSS) which conforms to IATA standards, has been launched in 151 major domestic and overseas airports, while the online check-in module has been applied in 274 airports at home and abroad.
Across its entire airport IT business (separate from the distribution numbers) it processed nearly 106 million departing passengers in the first six months of the year.
One of its flagship development projects has progressed well during the half. The "new-generation passenger service system", which it is developing in conjunction with China's major airlines, now has the "technological foundation for production execution" although there is no go live date.
More than half of the 40-page document covers its unaudited condensed consolidated interim financial performance, with the business review providing a summary of its own - in the first six months of the year Travelsky generated revenues of RMB3.1 billion ($474 million), up 14.3%, netting an EBITDA of RMB1.6 billion ($245 million) which was down by 16%.
It explained that the drop in earnings was mainly attributable to RMB500 million ($77 million) of "government subsidies" in the same period last year.
Related reading from tnooz:
Travelsky financials show stronger growth in 2016 than western peers (April17)