Kurt Ekert, CEO of Sabre, said on a third-quarter earnings call that corporate travel bookings remain about 25% below pre-pandemic levels, though they are closer to full recovery on a cost basis because of higher travel costs.

Sabre reported an 11% increase in its Travel Solutions revenue in the third quarter to $671.9 million; that represented a 12% year-over-year increase. Ekert said the company’s share of industry air bookings in the quarter was up 0.7 percentage points to 34.1% year over year and up 0.4 percentage points against the second quarter. Non-air travel bookings for Sabre increased 18% year over year in the third quarter to $13.4 million.

Ekert said the company expects signed but not-yet-implemented global distribution system deals, a robust pipeline and a strong competitive distribution offering will position Sabre well for continued share gains and future growth.

Ekert called the quarter “an important turning point” for Sabre, as it had an operating income of $52 million, compared with a $57 million operating loss the year prior. That has been driven in part by Sabre’s cost-cutting measures announced earlier this year, including a 15% reduction in its workforce.

Sabre reported a net loss of $211.8 million for the quarter, compared with a $140.7 million net loss in the third quarter of 2022.