Sabre Corporation ( SABR Quick Quote SABR - Free Report) recently announced that All Nippon Airways (“ANA”) has selected its Slot Manager solution to help the Japanese airline improve network planning and optimization capabilities across its domestic routes.
The new agreement enhances the decade-long business relationship between the two companies. ANA already uses the Sabre Slot Manager solution for its international routes. The Japanese air carrier is also part of the Sabre global distribution marketplace. Additionally, ANA’s mid-haul airline, AirJapan, uses the travel technology provider’s multiple products, including the Radixx Res Passenger Service System.
Sabre Slot Manager is a comprehensive slot management solution. It allows airlines to manage slot portfolios and automate the slot messaging process. This helps air carriers sync schedules and slots, thereby avoiding penalties and loss of historic slots. The deployment of Sabre Slot Manager will help ANA strategically manage its portfolio and improve efficiencies, thereby increasing revenues and reducing costs.
In the first quarter of 2023, Sabre’s Travels Solutions segment revenues totaled $677.4 million compared with the year-ago quarter’s $534 million. This upside was mainly fueled by the gradual recovery of global air and other travel bookings, partially offset by the sale of the AirCentre portfolio in February 2022. The segment’s revenues also benefited from favorable rate impacts as international and corporate bookings improved.
Sabre has more than 425,000 travel agency partners worldwide at present. The company provides one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually.
The leading travel-related software and technology provider has its customer base spread in more than 160 nations globally. In May, Sabre and Chile’s SKY Airline extended their existing relationship with a new multi-year agreement. Sabre will continue to provide its Global Distribution System to SKY Airline and assist the airline’s successful migration to the SabreSonic Passenger Service System, a passenger reservation system under the new agreement.
In the same month, SABR signed a long-term technology renewal agreement with Taiwan’s South East Travel. Per the deal, the Taipei-headquartered agency will continue to leverage the company’s products for expanding its business and improving operational efficiency.
Sabre reported revenues of $742.7 million in the first quarter of 2023. The top line was $584.9 million, which was 27% higher than the year-ago period. This surge reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Other Stocks to Consider
Sabre currently carries a Zacks Rank #2 (Buy). Shares of SABR have plunged 43.8% year to date (YTD).
Some other top-ranked stocks from the broader technology sector are
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