Sabre revenues fall by 66% during COVID-hit 2020

Overall revenues for Sabre plummeted to $1.3 billion for 2020 – a drop of 66% amid a near-collapse of the travel industry during large swathes of the year.

A net loss attributable to common stockholders, also of $1.3 billion, was filed in the company’s full-year earnings report today.

The company says its metrics were negatively impacted by the onslaught of the coronavirus pandemic but a number of cost-cutting measures put in place during the year partially offset the impact.

Revenues during the fourth quarter of 2020 also fell by two-thirds year-over-year to $313.8 million, although this was the best-performing three months for Sabre since Q1.

Distribution revenue for the full year came in at $582 million,…