Sabre closes sale of its AirCentre airline operations portfolio

Rhea-AI Summary

Sabre Corporation (NASDAQ: SABR) announced the successful closing of its $392.5 million sale of the AirCentre airline operations portfolio to CAE. This divestiture allows Sabre to streamline its product offerings and focus on its technology transformation and revenue growth. CEO Sean Menke emphasized that this marks a significant step toward positioning Sabre as a premier global technology platform in travel.

Positive

• Successful sale of AirCentre operations for $392.5 million, enhancing liquidity.
• Focus shift towards technology transformation and new revenue opportunities.

Negative

• None.

SOUTHLAKE, Texas, March 1, 2022 /PRNewswire/ -- Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, today announced the successful closing of the previously-announced agreement to sell its AirCentre airline operations portfolio to CAE, a technology leader in digital flight and crew operations.

The transaction, valued at $392.5 million, includes the Sabre AirCentre product portfolio, related technology and intellectual property as well as the transfer of AirCentre's highly talented team members from Sabre to CAE.

The divestiture of AirCentre supports Sabre's effort to streamline its product portfolio in order to focus more intently on its ongoing technology transformation as well as plans to identify and maximize new revenue opportunities for the Company and its customers.

"Today's announcement marks an important milestone for Sabre as we take bold steps toward achieving our vision to be held as the premier global technology platform in travel," said Sean Menke, Sabre CEO. "With the close of this transaction, Sabre is better positioned for the future and ready to deliver on the incremental revenue and growth opportunities that are before us."

About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.

SABR-F

Sabre Contacts:

Media
Kristin Hays, Senior Vice President, Global Communications
kristin.hays@sabre.com

Heidi Castle, Senior Director, Global Communications
heidi.castle@sabre.com

Investors
Kevin Crissey, Vice President, Investor Relations
sabre.investorrelations@sabre.com                                                                             

 

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SOURCE Sabre Corporation

FAQ

What is the value of Sabre's sale of the AirCentre portfolio?

The sale of Sabre's AirCentre airline operations portfolio is valued at $392.5 million.

Who acquired Sabre's AirCentre airline operations portfolio?

CAE acquired Sabre's AirCentre airline operations portfolio.

How will the sale affect Sabre's business strategy?

The sale allows Sabre to streamline its product offerings and focus on technology transformation and new revenue opportunities.

What is the significance of the AirCentre sale for Sabre?

The sale represents a milestone in Sabre's vision to become a premier global technology platform in travel.

What is Sabre Corporation's stock symbol?

Sabre Corporation's stock symbol is SABR.