Welcome to our dedicated page for Sabre Corporation news (Ticker: SABR), a resource for investors and traders seeking the latest updates and insights on Sabre Corporation stock.
Sabre Corporation (NASDAQ: SABR) is a leading software and technology provider dedicated to the global travel industry, boasting nearly US$8 trillion in industry reach. Sabre’s comprehensive suite of technology solutions empowers airlines, hotels, travel agencies, and various travel suppliers to grow their businesses and innovate the traveler experience. The company's open and stable platform ensures flexibility, reliability, and scalability for clients, making Sabre an industry powerhouse.
Headquartered in Southlake, Texas, Sabre is committed to transforming the travel ecosystem through advanced technology. Their services include data-driven business intelligence, mobile solutions, distribution channels, and software as a service (SaaS) offerings. Over the years, Sabre has pioneered several industry-changing technologies such as online travel agencies, corporate booking tools, revenue management systems, and web and mobile itinerary tools.
Sabre's business is structured into two primary segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment, which accounted for 91% of total 2023 revenue, encompasses distribution (78% of segment sales) and airline IT solutions (22%). Meanwhile, the Hospitality Solutions segment, although smaller, is rapidly growing and represented 9% of the 2023 revenue. Sabre's marketplace transacts more than a billion travel-related transactions annually, holding the second-largest air booking volume share in the global distribution system industry.
Recent achievements for Sabre include strategic agreements and partnerships to extend their technological offerings. For instance, Sabre recently signed a multi-year agreement with Air Serbia, enhancing the airline's revenue management with Sabre's Pricing and Revenue Optimization suite. The company also made significant strides in financial restructuring, such as the exchange of $150 million in 4.000% exchangeable senior notes due 2025 for new 2026 notes, thereby optimizing its debt profile.
Sabre's ongoing projects reflect its focus on innovative solutions. The introduction of SabreMosaic™, a new intelligent, modular, and open technology platform, aims to transform airline retailing by adopting a modern Offer and Order approach. This platform, powered by Google Cloud's AI capabilities, facilitates dynamic and personalized content delivery to travelers, enhancing revenue opportunities for airlines.
Sabre's consistent efforts in technological advancements and strategic partnerships ensure its prominent position in the travel technology sector and its commitment to revolutionizing the travel experience for consumers worldwide.
Sabre Corporation (Nasdaq: SABR) has announced a proposed offering of $300 million in senior secured notes through its subsidiary, Sabre GLBL Inc. The net proceeds will be utilized for repayment of Sabre's bank debt. These notes will be guaranteed by Sabre Holdings and secured by a first-priority interest in substantially all of Sabre GLBL’s assets, excluding certain assets. The offering is targeted at qualified institutional buyers and will not be registered under the Securities Act, limiting its sale in the U.S.
Sabre Corporation (Nasdaq: SABR) has announced the pricing of two concurrent public offerings: 3,000,000 shares of 6.50% Series A Mandatory Convertible Preferred Stock at $100.00 each and 35,714,286 shares of common stock at $7.00 each. The offerings will settle on August 24, 2020, with net proceeds expected to be approximately $239.4 million from the common stock offering and $290.3 million from the preferred stock offering. Funds will be used for general corporate purposes. Conversion of preferred shares into common stock is anticipated by September 1, 2023.
On August 18, 2020, Sabre Corporation (Nasdaq: SABR) announced public offerings totaling $500 million, comprising $250 million each of mandatory convertible preferred stock and common stock. The offerings may increase to $575 million if underwriters exercise their overallotment options. Proceeds will fund general corporate purposes. Each preferred share has a liquidation preference of $100.00 and will convert to common stock on September 1, 2023. The offerings are led by Morgan Stanley and BofA Securities.
On August 7, 2020, Sabre Corporation (NASDAQ: SABR) announced the financial results for Q2 2020, with earnings materials now accessible on their Investor Relations webpage. The company plans a live earnings conference call today at 9:00 a.m. ET to discuss these results and address COVID-19's impact on business. Sabre is a leader in software and technology for the global travel industry, managing over $260B in travel spend annually and serving clients in over 160 countries.
Sabre Corporation (NASDAQ: SABR) announced the extension of its global distribution agreement with United Airlines on August 6, 2020. This partnership will enable travel agents to access United's content globally through Sabre's technology, connecting over 425,000 travel agents worldwide as travel restrictions ease. Sabre aims to enhance air content distribution to valuable travelers through its global marketplace, while also collaborating on NDC (New Distribution Capability) to offer personalized offers. This agreement underscores Sabre's commitment to provide optimal retailing and fulfillment solutions to its clients.
Sabre Corporation (NASDAQ: SABR) has entered a multi-year agreement with ASKY Airlines to enhance the airline's technology capabilities. This partnership aims to leverage Sabre's passenger service system and Sabre Commercial Platform to improve shopping, payment systems, and airport operations. ASKY, one of Africa's fastest-growing airlines, intends to use Sabre's Revenue Optimiser for better revenue management. Despite ongoing challenges in global aviation, ASKY seeks growth through innovative technology to enhance passenger experiences and support regional recovery post-Covid-19.
On August 4, 2020, Sabre Corporation (NASDAQ: SABR) announced the renewal of its long-term distribution agreement with Air New Zealand. This renewed agreement will enable Sabre to continue providing global Air New Zealand content to travel agents and corporations through its extensive travel marketplace. The deal includes an opt-in content program for agencies in New Zealand and Australia, enhancing access to Air New Zealand's preferential content. This collaboration aims to support the recovery and growth of the travel industry post-pandemic.
Pacific Airlines and Sabre Corporation (NASDAQ: SABR) announced a strategic agreement to adopt the Sabre Passenger Service System (PSS), enhancing Sabre's position in the Vietnamese aviation market. The partnership aims to support the recovery and growth of the APAC travel industry post-Covid-19. The integrated platform is expected to improve operational efficiencies and enhance the travel experience. With a longstanding relationship, the transition from the legacy system to Sabre's PSS is anticipated to be swift, leveraging technology to maximize revenue and streamline operations.
Sabre Corporation (NASDAQ: SABR) issued a statement on July 27, 2020, addressing misconceptions from a speculative news article regarding its involvement in COVID-19 tracking. The company clarified it has not been requested to participate in such tracking initiatives and emphasized that it complies only with legally valid requests. Sabre, a technology leader in the travel industry, manages over $260B in annual global travel spend, serving clients in over 160 countries.
Sabre Corporation will conduct a live webcast for its second quarter 2020 earnings call on August 7, 2020, at 9:00 a.m. ET. The call will cover financial results and discuss the impact of COVID-19 on its operations. Investors can access the webcast via the Investor Relations section of Sabre's website. The session will last approximately one hour, with a replay available for 90 days post-event. Sabre is a leading technology provider for the global travel industry, managing over $260 billion in travel spend annually.
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