The corporate travel recovery has “accelerated,” according to Sean Menke, CEO of
Sabre, in a first quarter earnings call. He said domestic corporate travel recovered to 66% of 2019 levels, with travel by financial, consulting and IT sectors increasing faster than at any point since the pandemic started. The company’s total revenue for the quarter was $585 million, up from $327 million in the first quarter of 2021; the operating loss for the quarter was $80 million, an improvement over the $203 million loss a year ago. Menke said the company is encouraged by the strengthening trends in its business and has seen consistent sequential volume improvements in key metrics week over week since mid-January 2022. After a slow start in January due to the Omicron variant, he said, the travel recovery accelerated sharply, and bookings in April ended at the highest level of recovery versus 2019 since the start of the pandemic. The overall improvement in each global geographic region, said Menke, has been particularly positive, supported by a significant return of more profitable international and corporate travel.