Today, Travelport has successfully concluded a financing transaction announced earlier. In this transaction, a cluster of current equity holders and lenders has invested $570 million of new equity into the company.
Travelport’s balance sheet benefits greatly from the new financing, resulting in a stronger long-term capital structure. This allows Travelport to persistently invest in its technology platforms and drive innovation, enabling the travel industry to better cater to customers.
The successful conclusion of Travelport’s previously disclosed financing deal indicates the unwavering confidence our investors have in our strong market position and prospects for sustained expansion, stated Greg Webb, CEO of Travelport. Through this fresh infusion of funds, we are empowered to persist in our pursuit of innovation, amplifying our ability to provide our partners with state-of-the-art technology solutions. This investment will serve as a catalyst for our continued progress, positioning the company for accelerated pace, flexibility, and groundbreaking advancements in 2024.
Travelport wraps up a fruitful year with the finalization of the transaction. Throughout the year, the company has made significant strategic investments and implemented successful initiatives to improve its technology, products, and services for customers. Looking ahead, Travelport will persist in investing in customer offerings, such as expediting advancements in Travelport+, extending support for various carrier NDC offerings, and further developing the Content Curation Layer. This innovative search engine, fueled by machine learning, harmonizes and customizes all travel content sources.
Travelport’s current ownership is a combination of its existing equity and credit investors, which include notable institutions like Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital, and other prominent institutional investors.
