Sabre Corporation Statement Regarding Southwest Airlines Reservations System Contract
SOUTHLAKE, Texas, May 5, 2014 /PRNewswire/ -- Sabre Corporation (NASDAQ: SABR) reported that it was notified earlier today by Southwest Airlines of its decision to end the competitive bid process for its future reservations system. Sabre was further notified that the contract has been awarded to a competitor.
Sabre remains under contract to be compensated through December 31, 2016 for continuing to provide reservations services for all domestic flights.
In 2013, Southwest Airlines' reservations system contributed approximately one percent of total Sabre revenues, and three percent of Adjusted EBITDA.
Sabre's leading SabreSonic CSS reservation solution is a market leader with strong market momentum. The robust and flexible solution was recently selected by the combined American Airlines and U.S. Airways, the world's largest airline.
Sabre's broad portfolio of airline solutions continues to provide opportunity for the Company to work with Southwest going forward through its currently installed solutions, as well as future opportunities.
Sabre® is a leading technology provider to the global travel and tourism industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre also operates a leading global travel marketplace, processing over $100 billion of estimated travel spend in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre operates in approximately 60 countries around the world.
Nancy St. Pierre