1 year ago
 

Travelsky references immediate benefit of OpenJaw

Travelsky, the Chinese state-owned and Hong Kong listed aviation distribution and IT provider, has reported revenues of more than $409 million (RMB 2,733.6 million) and an EBITDA of $290 million (RMB1,935.3 million) for the first six months of 2016.

Overall, the Travelsky system handled 251 million flight bookings during the six months.

At the start of May this year Travelsky bought Dublin-based OpenJaw Technologies for $39.4 million, 18 months or so after GuestLogix bought OpenJaw for $41 million. GuestLogix filed for creditor protection this February.

OpenJaw is already contributing positively to Travelsky’s bottom line. The statement said:

“Included in the revenue and profit for the period are revenue of approximately RMB24.92 million ($3.73 million) and net profit of approximately RMB4.13 million ($600,000) attributable to the additional business generated by the newly acquired subsidiary for the period between the date of acquisition and June 30, 2016.”

Click here to see the press release or the financial statement in full.

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Martin Cowen

About the Writer :: Martin Cowen

Martin Cowen is contributing editor for Tnooz and is based in the UK. Besides reporting and editing, he also oversees our sponsored content initiative and works directly with clients to produce articles and reports.

For the past several years he has worked as a freelance writer, specialising in B2B distribution and technology.

Before freelancing, from 2000-2008, he was launch editor for e-tid.com, the first online-only B2B daily news service for the UK travel sector.

 

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