Rumors Fuel Trading Jump
Just the rumors of a potential sale saw Sabre’s shares jump 3.4% in trading. This marks a possible change of fortune if a sale – either of SynXis or the software business as a whole – comes to pass.
Despite its debt, the company reported last month that it is confident of “maintaining its position” in global distribution systems over the next 10 years “driven by a gradual recovery in corporate travel”.
Sabre was founded by C.R. Smith, the then president of American Airlines, and R. Blair Smith, a sales executive at IBM in the 1960s. It was created to provide a data processing system for the airline industry. Its core purpose was to help them manage seat reservations, but now the company designs to tech to power mobile apps, check-in kiosks, websites, hotel reservations and even eCommerce for travelers.
