Travelport returns to profit in 2010
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Travelport Limited has announced its financial results for full-year 2010, with operating profits totaling US$314 million (INR1,396 crore). The result marks a return to profit for the travel technology company, which posted a US$499 million loss in full-year 2009. The company’s revenues increased 1.9% to US$2.29 billion.Commenting on developments, Jeff Clarke, President & CEO of Travelport, said; “2010 was a year of investment in new technologies and emerging markets for Travelport. We have a solid pipeline of customers for Travelport Universal Desktop and are already seeing the benefits from our industry leading Travelport Universal API product set. The strong cash flow performance of the company supports continued investment while also allowing us to opportunistically improve our capital structure.”
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