Travelport has received commitments for a $500 million financing package, in addition to $500 million of available financing capacity.
The investment comes from affiliates of existing owners Siris Capital and Evergreen Coast Capital, the private equity affiliate of Elliott Management Corporation.
The company said the financing provided “the liquidity needed to continue to exceed the expectations of its customers despite the impact of the Covid-19 pandemic”.
Greg Webb, chief executive, said: “Covid-19 and the governmental response to the pandemic has had a negative impact on the travel industry, including our business, and we appreciate the increased support from Siris and Evergreen as we work to get through this challenging time.
“Their unwavering commitment and new capital ensure that we can continue to meet the needs of our customers, support our employees and take steps to emerge from this global health crisis in a strong position.
“With the support of our investment partners, we are confident in the long-term viability of our business and we remain committed to continued technology investments and our transition to a next-generation platform.”
Frank Baker, co-founder and managing partner of Siris Capital, said: “Siris is committed to Travelport’s future success and growth, and our priority is maintaining the company’s position as the industry partner of choice.
“We remain optimistic about the future trajectory of the business as the Company takes steps to increase its resiliency and emerge from the current crisis.”