Gordon Wilson, president and CEO of Travelport (pictured below right), commenting on the positive results said in  a statement, “As we celebrate the one year anniversary of our merchandising platform, I am pleased we have further strengthened our air proposition with the signing of new ground-breaking agreements with Ryanair and AirAsia, an extended partnership with easyJet, and over thirty airline agreements for our Rich Content and Branding functionality,” he added.

“Through these unrivalled agreements, we are now uniquely positioned to sell the content of all the world’s top 10 airlines. This milestone builds on our leadership in global hotel content distribution and augments our strong financial performance.”

Some company’s highlights:

• Additional content  to the Travel Commerce Platform that include distributing content from all the world’s top 10 airlines; new agreements with Ryanair and AirAsia and an extended partnership with easyJet; over 30 airlines signed for Rich Content and Branding functionality, including British Airways / Iberia and Air China
• Expanded hotel content from 580,000 unique properties
• Improvement of capital structure with deleveraging US$135 million debt-for-equity exchange transactions completed in March

Financial highlights:

• Net revenue of US$572 million for Q12014, 4% or US$24 million higher than the corresponding period of 2013
• Adjusted EBITDA of US$151 million, 7% or US$10 million higher than the first quarter of 2013.
• Adjusted net income of US$3 million, decreased from US$14 million for Q1the first quarter of 2014 primarily due to a US$13 million increase in interest costs.
• Travel Commerce Platform RevPas increased 3% to US$5.61.
• Interest costs of US$83 million for the three months ended March 31, 2014 were US$13 million higher than 2013 due to higher interest rates on debt as a result of the company’s debt refinancing in 2013.
• Net debt reduced to US$3,226 million as of March 31, 2014, which comprised debt of US$3,485 million less $180 million in cash and cash equivalents, and less US$79 million of cash held as collateral, from US$3,340 million as of December 31, 2014 following the deleveraging US$135 million debt-for-equity exchange transactions completed in March.
• US$23 million generated in net cash from operating activities for the three months ended March 31, 2014 compared to net cash used in operating activities of US$21 million for the three months ended March 31, 2013. The improvement of US$44 million is primarily a result of the timing of interest payments, as some payments were deferred into the second quarter of 2014 as a result of its 2013 refinancing.