This was 55% higher than in April-June 2007.
Net revenues remained near flat (-0.2%) at $703m (£374.6m), while costs and expenses were down 9% at $587m (£312.8m), resulting in a second quarter operating profit of $116m (£61.8m), 65.7% ahead year-on-year.
Net profit totalled $59m (£31.4m), turning around a loss of $22m in Q207.
Travelport operates three main divisions: Travelport GDS comprising Galileo, Worldspan and data analysis company Business Intelligence Services; IT services and software; and group travel and wholesale hotel firm GTA.
It also owns about 48% of Orbitz Worldwide. Orbitz was floated in July 2007 and deconsolidated from Travelport on 31 October 2007. Worldspan, meanwhile, was acquired in August 2007.
Adjusted to exclude Orbitz and include Worldspan in all periods, as if both transactions had taken place on 1 January 2007, quarterly EBITDA improved by 8% to $203m.
Adjusted net revenues on the same basis were 1% higher at $703m.
Galileo’s adjusted net revenue and adjusted EBITDA came to $407m and $137m respectively, flat and up 4% compared to the second quarter of 2007.
The flat revenue resulted from a 5% decline in Galileo segments to 67.9m, particularly in the Americas where they were down 8%, offset by higher yield per segment.
Agency commissions increased 2%, driven by unfavourable exchange rates, but excluding commissions Galileo cut its operating expenses by $10m or 8%. The higher yields and lower costs helped lift EBITDA margin to 33.7% from 32.3%.
Adjusted net revenue from Worldspan fell 6% to $185m, ‘almost entirely due to the loss of segments from Expedia’, with its overall segments down 16% at 33.5m.
Worldspan’s adjusted EBITDA was $50m, a year-on-year decrease of 11%, reflecting the short-term reverse leverage impact of lower revenue.
Overall, Travelport GDS saw segments decline by 9% year-on-year to 101.4m.
Finally, adjusted net revenue and adjusted EBITDA for GTA came to $111m and $36m, up 26% and 20% respectively. Global Total Transaction Value (TTV) grew 13%, driven primarily by a mix of improved pricing and favourable currency trends, with TTV in EMEA up 30% and in Asia Pacific up 17%.
Click here to see the Q2 results in full (68KB pdf).
See also:
Ex-Kuoni chief exec named Travelport CCO (16/05/08)
Travelport cuts first quarter net loss (13/05/08)