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NEW! Head of Finance (Interim
Salary: Salary £43k pro rata
Location: London

Our client, an online company, is seeking to recruit an interim Head of Finance for maternity cover. This is a key role and one that manages the Finance Department, ensuring all accounting records and controls are accurately maintained. To be successful in this role you must be professionally qualified or QBE - ACCA, CIMA or equivalent; have technical accounting skills and excellent MS Excel skills. You must also have the ability to manage a small team.

NEW! Financial Controller
Salary: Salary c£50-55k
Location: Home Counties

Our client is currently seeking a commercially astute Financial Controller to assist in shaping and driving the business forward. The role will have a strong commercial bias in providing insights into and influencing the commercial, product and marketing strategies to improve processes and margins. This represents a unique opportunity to make a difference in an exciting, consumer facing business in a highly visible role and should attract a bright and ambitious Financial Controller.

NEW! Purchasing Manager - Spanish Speaking
Salary: Salary Negotiable plus benefits
Location: Anywhere

Our client is seeking a purchasing manager to contribute to the planning process and to contract a reliable programme of overseas accommodation & services to cater for the required volume in quality, value for money beds in line with Destination, Brand and Product Line strategies within agreed time frames. For this role you must have a minimum of 2 years experience in a tour-operating environment, with the ability to negotiate in Spanish.

Orbitz investment puts Travelport in the red

14 Nov 2008

Travelport posted a third quarter net loss of $128m (£86.4m) and saw its net revenue drop 3% from the same period last year.

The company attributed the loss to a $138m (£93m) investment in Orbitz Worldwide.

Excluding this investment, it would have achieved net income of $10m (£6.7m), which would have been a $50m (£33.7m) improvement on Q307.

Travelport reported adjusted net revenue of $635m (£428.6m) and achieved adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) of $191m (£129m).

President and CEO Jeff Clarke said: ‘Travelport’s results in the third quarter of 2008 continue to show the resiliency of our business even during the unprecedented economic conditions that we are experiencing.

‘The environment for travel continued to weaken into the third quarter as the expected airline capacity reductions materialised.’

In addition to its c48% stake in Orbitz Worldwide, Travelport owns: Travelport GDS, comprising Galileo and Worldspan; group travel and wholesale hotel business GTA; Business Intelligence Services, a data analysis business; and IT Services and Software, which hosts mission critical applications and provides business solutions for major airlines.

Travelport said it realised $47m (£31.7m) of cost savings during Q308, including $24m (£16.2m) from Worldspan synergies, and is on target to save $45m after moving its Denver data centre to Atlanta.

Adjusted net revenue and adjusted EBITDA for Travelport’s GDS businesses were $532m (£359m) and $165m (£111m), respectively, a 4% reduction in adjusted net revenue and a 1% reduction in adjusted EBITDA year-on-year.

GDS segments declined 10% year-on-year over the quarter, although margins were higher.

GTA achieved adjusted net revenue and adjusted EBITDA of $103m (£69.5m) and $46m (£31m), respectively, representing flat revenue and a 15% increase in adjusted EBITDA compared with the third quarter of 2007.

Global total transaction value (TTV) grew 2% in the quarter, driven primarily by higher average daily rates and a slight increase in the length of stay.

Operating expenses for GTA decreased 14% during the third quarter of 2008, which drove a 15% increase in adjusted EBITDA margin.

See also:
Travelport turns $22m loss into $59m profit (13/08/08)
Ex-Kuoni chief exec named Travelport CCO (16/05/08)
Travelport cuts first quarter net loss (13/05/08)
GTA goes global with new structure (07/11/07)

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