Travelport has seen an increase in net revenue in its earnings for the second quarter and half year ending June 30, 2018.
The company reported an 8% increase in net revenue to $662 million, while net income was down $27 million to $7 million with the decline attributed mainly to foreign currency fluctuations. EBITDA for the company increased 7% to $157 million.
Revenue for the Travel Commerce Platform rose 9% to $638 million, 30% of which was contributed by Beyond Air, which saw a 21% increase in revenue to $194 million.
Beyond Air revenue was boosted by revenue for the eNett payments business which increased 82% to $81 million for the quarter.
Chief executive officer Gordon Wilson says the rise was a result of new customers as well as existing customers ramping up their use of eNett.
"It can be a slow burn with some customers but once they start it really takes off."
Revenue for the Technology Services business declined 15% to $24 million, which was largely because of the sale of IGT Solutions in Q2 2017.
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Wilson says the company is on track for its full-year guidance despite the “likelihood of a more challenging market environment” for the second half of 2018.
The heatwave in Northern Europe as well as potential higher fuel prices are expected to put pressure on companies in the next few months.
He adds that despite these factors, as well as the impact from the termination of an agreement with a European online travel agency believed to be Tripsta, the company “remains well-positioned for long-term growth”
In addition to Travelport's ongoing NDC developments with both airlines and corporate travel agencies, the company is also investing in a data analytics platform with IBM.
The Travel Manager platform has been used internally within IBM but will be unveiled at the forthcoming GBTA Convention in San Diego.
Wilson says the platform, for corporate travel managers and their travel agency partners, uses IBM Watson to help the travel management community gain improved insight and increase efficiency. The system uses Travelport and IBM data as well as insight from other sources including social media.