SABRE CORPORATION (NASDAQ:SABR) Files An 8-K Material Impairments

Material Impairments

On May 24, 2017, Sabre Corporation (“Sabre”) concluded that, as required by U.S. generally accepted accounting principles, it expects to record a charge of approximately $80 million to $100 million, before taxes, for impairment of Sabre’s previously capitalized net costs and other assets, net of expected estimated recoverable fees and deferred revenue, associated with its contract with Air Berlin Plc & Co Luftverkehrs KG (“Air Berlin”). This impairment charge represents a non-cash expense in the second quarter of 2017. Sabre has notified Air Berlin that, given the substantial amount of uncertainty of reaching an agreement regarding the implementation of SaaS services to the contract, Sabre is commencing a formal resolution process, resulting in the charge. The contract provides for recoverability of at least a portion of capitalized net costs, which has been considered in the impairment assessment. Further, Sabre believes that its rights under the contract would entitle it to a termination fee that is substantially higher than the amount of this impairment charge. The impairment charge will result in a material impact on Sabre’s financial results, and related matters are expected to further adversely impact Sabre’s future results of operations and cash flow.

Forward-Looking Statements

Any statements herein regarding Sabre that are not historical or current facts are forward-looking statements. These forward-looking statements convey Sabre’s current expectations or forecasts of future events. Forward-looking statements regarding Sabre involve known and unknown risks, uncertainties and other factors that may cause Sabre’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Note Regarding Forward-Looking Statements” sections of Sabre’s quarterly report on Form 10-Q for the period ended March 31, 2017, its annual report on Form 10-K for the year ended December 31, 2016, and any of Sabre’s other applicable filings with the Securities and Exchange Commission. Unless required by law, Sabre undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.

About SABRE CORPORATION (NASDAQ:SABR)
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’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. The Company operates in two segments: Sabre Travel Network, and Sabre Airline and Hospitality Solutions. The Sabre Travel Network segment is the Company’s global business-to-business travel marketplace for travel suppliers and travel buyers. The Sabre Airline and Hospitality Solutions segment offers a suite of software solutions primarily for airlines and hotel properties. The Company connects the travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines and tour operators, with travel buyers in a travel marketplace. The Company does business in approximately 160 countries around the world. SABRE CORPORATION (NASDAQ:SABR) Recent Trading Information
SABRE CORPORATION (NASDAQ:SABR) closed its last trading session up +0.17 at 23.09 with 1,350,273 shares trading hands.