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The Motley Fool fool.com 02 Aug, 2022 20:15 am

Why Sabre Stock Is Climbing Today

Why Sabre Stock Is Climbing Today
A surge in travel is causing this tech stock to gain altitude.

"As global travel and testing restrictions lifted, a robust travel recovery ensued and we were ready for it," Menke said in a statement."Overall, we firmly believe the travel recovery remains on a long-term upward trajectory, and passengers both corporate and leisure continue to show a strong desire to fly.CEO Sean Menke in a statement said that some airlines and airports have "struggled with the pace of the recovery," which has led to some airlines cutting growth forecasts, but the overall trend is positive.Shares of Sabre (SABR 8.

Sabre shares tend to be tied to the cyclical travel industry, and they have had a tough few years as a result." Sabre also raised its full-year guidance for revenue, and said it expects adjusted EBITDA for the year to turn positive should 2022 bookings come in at 60% of 2019 volume.

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