Orbitz Worldwide and Travelport get their freedom from Blackstone
Skift Take
Blackstone saddled Travelport and Orbitz Worldwide with tremendous debt, and greatly restricted Orbitz's freedom to maneuver. There have to be some champagne corks popping this weeks as Orbitz has a chance to taste some freedom.
April 15, it turns out, was independence day for Orbitz Worldwide and Travelport.
The Blackstone Group had controlled both companies, but relinquished its grip when Travelport completed a refinancing plan April 15.
Orbitz Worldwide announced its new status in a Securities and Exchange Commission filing April 18, stating: "... The Blackstone Gr
