Cendant suffer earnings tumble
Cendant Travel Distribution Services saw pre-tax earnings tumble into the red during the fourth quarter of 2005, with the acquisition of ebookers behind the fall.
The company reported a loss before interest, tax, depreciation and amortisation of $340 million, down from £112m in the fourth quarter of 2004.
Cendant said the result was down to a $434m pre-tax impairment charge, principally associated with its online consumer travel business, largely ebookers, as well as severance costs of $112m.
Revenue however increased 26% from $460m in 2004 to $580m.
Organically, its online travel businesses gross bookings climbed 16% and achieved higher EBITDA margins while revenue from GDS and supplier services declined 2%. Cendant said it followed a 6% increase in global GDS segment volume was offset by decreased subscriber fee income.
Cendant Travel Distribution Services includes ebookers, Orbitz, Gullivers, Galileo and OctopusTravel.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Strike action set to cause travel chaos at Brussels airports
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent