Sabre Corporation (NASDAQ:SABR) today announced that its Board of Directors has approved a share repurchase program to purchase up to an aggregate of $100 million of shares of Sabre’s common stock. The program will expire on December 31, 2016.
“With leverage near the bottom of our targeted range and expectations for continued strong growth in free cash flow, we believe the return of capital through an opportunistic share repurchase program represents an attractive opportunity to enhance long-term shareholder value,” said Rick Simonson, Sabre’s chief financial officer.
Repurchases under the program may take place in the open market or privately negotiated transactions, including but not limited to accelerated share repurchase transactions, derivative transactions and under Rule 10b5-1 plans.
Sabre Corporation is the leading technology provider to the global travel industry. Sabre’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a leading global travel marketplace, which processes more than US$120 billion of global travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.