SOUTHLAKE, Texas - Sabre (NASDAQ:SABR) Corporation (NASDAQ:SABR), a key player in the global travel industry, has partnered with Google (NASDAQ:GOOGL) to leverage the Travel Impact Model (TIM) for analyzing historical business travel emissions. This collaboration marks the first application of TIM in assessing past corporate travel carbon emissions.
The pilot program utilized Sabre's business travel data from 2023, with Google analysts calculating emissions at the flight level and suggesting strategies for future reductions. Jessica Matthias, Global Sustainability Director at Sabre, emphasized the company's commitment to accurate emissions methodology and innovative reduction strategies. The TIM's application to past emissions is seen as a step towards better informing companies on how to decrease their business travel emissions.
According to the analysis, targeting the most polluting routes, especially long-haul flights, could significantly reduce emissions. Google's team identified lower-emitting alternatives for two-thirds of flights, pinpointing routes such as Dallas-London and Dallas-Frankfurt, which could see emission reductions of up to 10%.
Sabre, which reported business travel as nearly 7% of its carbon footprint in 2023, plans to use these insights to refine its travel policies and aims to extend the TIM's capabilities to its agency and corporate booking tools. This follows the integration of TIM emissions data into Sabre's corporate online booking tool, GetThere, last year, allowing travelers to see carbon estimates during the booking process.
The need for accurate business travel emission reporting is increasing, particularly with regulations like the Corporate Sustainability Reporting Directive (CSRD) on the horizon. Although business travelers constitute a small percentage of airline passengers, they contribute disproportionately to emissions, with the figure in Europe standing at around 30%.
The TIM, developed by Google in collaboration with the Travalyst coalition, is already integrated into platforms such as Google Flights and others, providing reliable climate impact data for individual flights. It will soon be available to any company seeking a robust business travel emissions measurement and reporting tool.
This initiative is part of Sabre's broader efforts to connect the travel industry through innovative products and technology solutions, serving customers in over 160 countries.
The information provided in this article is based on a press release statement.
In other recent news, Sabre Corporation has reported strong financial results for the second quarter of 2024, surpassing its revenue and adjusted EBITDA guidance. This marked the first time in five years that the company has generated positive free cash flow, leading to an increase in its full-year 2024 revenue and adjusted EBITDA outlook. Sabre has also entered into a multi-year distribution agreement with PLAY airlines, a move that aligns with its strategy to include more low-cost carrier content in its marketplace. In executive changes, Sabre has appointed Rochelle Boas as the new Executive Vice President and Chief Legal Officer, following the departure of Ann Bruder. Meanwhile, board member Gregg Saretsky has resigned due to a conflict of interest, reducing the board's size from ten to nine directors. These are among the recent developments in the company.
InvestingPro Insights
Sabre Corporation's (NASDAQ:SABR) recent collaboration with Google is an innovative stride in the travel industry's journey towards sustainability. As Sabre integrates environmental considerations into its business strategies, it's important for stakeholders to understand the company's financial health and market performance. Here are some key insights from InvestingPro that may help investors gauge Sabre's current position:
InvestingPro data shows that Sabre has a substantial gross profit margin of 59.47% for the last twelve months as of Q2 2024, signaling its ability to manage costs effectively relative to sales. However, the company's P/E ratio stands at -5.39, reflecting that it is not currently profitable. Despite this, Sabre has demonstrated strong return over the last three months, with a 23.92% price total return, and an even more significant uptick over the last six months at 43.04%.
InvestingPro Tips suggest that while Sabre has impressive gross profit margins, analysts are cautious, as evidenced by two analysts revising their earnings downwards for the upcoming period. Moreover, analysts do not anticipate the company will be profitable this year, which aligns with the negative P/E ratio. On the bright side, Sabre's stock price movements have been quite volatile, offering potential opportunities for investors looking for short-term gains.
For those interested in a deeper dive into Sabre's financial metrics and additional analyst insights, InvestingPro provides a comprehensive list of tips. In fact, there are six more InvestingPro Tips available at https://www.investing.com/pro/SABR, which could further inform investment decisions regarding Sabre Corporation.
As Sabre continues to innovate and adapt to the growing sustainability demands of the travel industry, these financial metrics and expert insights could prove invaluable for investors looking to understand the company's potential and the impact of its recent initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.