Moshe will split his time between the two companies, though both organizations will remain operationally independent from the other.
The worse is yet to come as Trip.com Group projected net revenue to drop by 67%-77% in Q2; TravelSky sells a stake in its consumer-facing app to China Southern Airlines.
The state-controlled giant is taking a step to better adjust to the market-based economy and explore monetization for its app unit.
The airline and travel technology giant aims at supporting and investing in China's local travel ecosystem.
The company adds that it has more than 18 months of liquidity available at a zero booking rate.
Travel agents who have no direct access to TravelSky can use Aeronology’s connection to TravelSky to book all Chinese airlines into and out of China.
Sabre still has to wait for a UK antitrust regulator to rule before it can complete the deal.
System integration service revenue rose 23.3% to RMB 1,168.0 million for 2019, accounting for 14.4% of the company’s total revenue in the year.
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