United Kingdom
United States
Asia Pacific
Travelport wins loan agreement
Travelport announced today that it has won agreement from its lenders to extend its unsecured loans until the end of 2016.
The loans were due to mature in March 2012 and there were fears that without the extension the company's US parent Travelport Holdings would have been forced to seek protection from its creditors.
However, Travelport, which owns the Galileo and Worldspan reservations systems, said it had received unaminmous support from all its lenders to amend the terms of its unsecured payment-in-kind term loans, including to extend the maturity date to December 1 2016.
“We are very pleased that Travelport Limited and our parent company have received overwhelming support for the modification and extension of its credit facilities,” said president and CEO Gordon Wilson.
“We believe this support reflects the strength of our business and the confidence in our vision for the future of the company. With the consents obtained, Travelport Limited will continue to have the financial flexibility to execute our growth strategy.
"We remain focused on expanding and improving our product and technical platform and building on our position as one of the world’s leading travel content aggregators and transaction processing providers.”
By Linsey McNeill
Related News Stories:
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled