Travelport Lost Lucrative Flight Centre Contract to Distribution Rivals
Photo Credit: Operating from the Langley, UK office, Travelport's executive management team includes, left to right, Stephen Shurrock, Bernard Bot, Margaret K Cassidy, CEO Gordon Wilson, Rose Thomson, and Matt Minetola. The company reported first quarter 2018 earnings on Thursday. Travelport
Skift Take
No word on yet on what activist hedge fund investor Paul Singer of Elliott Management might try to pressure Travelport do this year. But research analysts expect that, at the very least, the travel technology company will be pressed to spin off its fast-growing eNett payments business.
There could be some Travelport drama in the second half 2018, given that New York-based activist investor Paul Singer of the hedge fund Elliott Management recently took an 11.8 percent stake in the UK-based travel technology group.
But the shape of things to come are unknown. During Thursday's first quarter earnings call with investors. executives declined to discuss the demands of the fund — which has enough cash to buy the company and take it private.
Travelport CEO Gordon Wilson only said that his team had been having "constructive conversations" with the fund's representatives.
Elliott has said that it is prodding the board to review the technology company's operations.
Flat Performance in the Core
Travelport recently lost a distribution contract with Flight Centre, one of the largest travel agencies in Australia and New Zealand, and Travelport rivals Amadeus and Sabre picked up the
