Key Developments: Orbitz Worldwide Inc (OWW.N)

OWW.N on New York Stock Exchange

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26 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Orbitz Worldwide Inc gives Q1, FY 2014 guidance in line with analysts' estimates - Conference call
Thursday, 13 Feb 2014 10:00am EST 

Orbitz Worldwide Inc:Expects Q1 2014 net revenue between $202 million and $207 million.Expects Q1 2014 adjusted EBITDA between $22 million and $25 million.Expects FY 2014, net revenue growth in the low- to mid-single digits, and adjusted EBITDA growth in the high-single digit.Reported revenue of $847.00 million and EBITDA of $143.57 million in FY 2013.Q1 2014 revenue of $207 million and EBITDA of $24 million - Thomson Reuters I/B/E/S.FY 2014 revenue of $877.01 million and EBITDA of $153.74 million - Thomson Reuters I/B/E/S.  Full Article

Orbitz Worldwide Inc signs global distribution agreements
Monday, 10 Feb 2014 09:02am EST 

Orbitz Worldwide Inc:Enters into new multi-year global distribution agreements with Amadeus, Sabre and Travelport for the provision of technology and travel management solutions.Says at the time of its initial public offering in 2007, Orbitz Worldwide entered into a subscriber services agreement with Travelport that included certain exclusivity provisions for its global distribution services. From Jan. 1, 2015.  Full Article

Jetset Travelworld Ltd And Orbitz Worldwide Inc Announce Strategic Alliance
Thursday, 14 Nov 2013 07:22pm EST 

Jetset Travelworld Ltd and Orbitz Worldwide Inc announced the signing of a ten-year Strategic Alliance Agreement, which provides the Jetset Travelworld Group (JTG) with access to Orbitz Worldwide’s global technology platform to power its new online offering, helloworld.com.au.  Full Article

Orbitz Worldwide Inc Lowers FY 2013 Revenue Guidance; Raises Low End Of Prior FY 2013 EBITDA Guidance - Conference Call
Tuesday, 5 Nov 2013 03:00pm EST 

Orbitz Worldwide Inc announced that for fiscal 2013, it expects net revenue of approximately $840 million which is at the low end of August guidance and adjusted EBITDA to deliver growth of between 9% and 10% which is towards the top end of August guidance. The Company reported EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $847 million for fiscal 2013.  Full Article

Orbitz Worldwide Inc Announces Sale Of Portion Of PAR Capital Management's Orbitz Worldwide Holdings
Tuesday, 13 Aug 2013 07:00am EDT 

Orbitz Worldwide announced that PAR Capital Management has sold 8.1 million of its 24.6 million shares of Orbitz Worldwide stock. PAR has been an equity investor in Orbitz since 2007 and subsequently acquired additional shares in November 2009 in a debt for equity exchange. After this sale, PAR will remain one of the investors in Orbitz Worldwide, and Orbitz Worldwide will remain one of the positions in PAR's investment portfolio.  Full Article

Orbitz Worldwide Inc Issues Q3 2013 Guidance; Updates On FY 2013 Revenue Guidance To A Range Above Analysts' Estimates; Raises Low End Of Prior FY 2013 EBITDA Guidance-Conference Call
Thursday, 8 Aug 2013 10:00am EDT 

Orbitz Worldwide Inc announced that for the third quarter of 2013, it expects net revenue to come in between $214 million and $220 million and adjusted EBITDA to come in between $41 million and $45 million. For fiscal 2013, it expects net revenue in the range of $840 million to $850 million and adjusted EBITDA growth between 8% and 10%. The Company reported EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $217 million and EBITDA of $45 million for the third quarter of 2013; revenues of $838 million and EBITDA of $141 million for fiscal 2013.  Full Article

Orbitz Worldwide Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates; Raises FY 2013 Revenue Guidance; Reaffirms FY 2013 EBITDA Guidance-Conference Call
Thursday, 9 May 2013 02:00pm EDT 

Orbitz Worldwide Inc announced that for the second quarter of 2013, it expects net revenue of between $214 million and $220 million and adjusted EBITDA of between $35 million and $39 million for the second quarter. For fiscal 2013, it expects net revenue to be up between of 4% and 7% and adjusted EBITDA to be up between 5% and 10%. The Company reported revenue of $778.80 million and EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $214 million and EBITDA of $36 million for the second quarter of 2013; revenues of $816 million and EBITDA of $136 million for fiscal 2013.  Full Article

Orbitz Worldwide Inc, American Airlines Settle Dispute Over Distribution Costs-Reuters
Monday, 1 Apr 2013 11:58am EDT 

Reuters reported that American Airlines and Orbitz Worldwide Inc which have been locked in a years-long dispute over travel distribution costs and methods said they have reached an agreement resolving the litigation between them. American had sued Orbitz in April 2011, saying the online agency and airfare data provider Travelport, which owns a 48 percent share in Orbitz, made American's fares look higher than they were to consumers.  Full Article

Orbitz Worldwide Inc Refinances Term Loan
Tuesday, 26 Mar 2013 09:03am EDT 

Orbitz Worldwide Inc announced it has secured new $450 million senior secured term loans consisting of a $150 million Tranche B term loan maturing in September 2017 and a $300 million Tranche C term loan maturing in March 2019. A portion of the net proceeds from the term loans, together with cash from the Company's balance sheet, was used to refinance $415 million of existing debt, which was scheduled to mature in July 2014, and $50 million are to be used to cash collateralize letters of credit. The Company also secured a new $65 million revolving credit facility replacing its $72.5 million revolving credit facility, which was scheduled to mature in July 2013. The revolving credit facility will be used for general corporate purposes.  Full Article

Orbitz Worldwide Inc Names Mike Randolfi As CFO
Friday, 22 Feb 2013 09:25am EST 

Orbitz Worldwide Inc announced that the appointment of Mike Randolfi as the Company's CFO, effective March 11. Mike joins Orbitz Worldwide from Delta Air Lines, where he currently serves as senior vice president and controller.  Full Article

Orbitz exploring sale, draws interest from private equity firms: Bloomberg

- Online travel agency Orbitz Worldwide Inc is exploring a sale and has drawn interest from private equity firms and other internet companies, Bloomberg reported, citing people with knowledge of the matter.

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