Notable News to Watch: Sabre Corporation (NASDAQ:SABR)
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On Tuesday Sabre Corporation (NASDAQ:SABR) stock plunged -0.56% and closed at 22.3. The stock opened the session at $22.47 and touched its highest price point at $22.71. Its recent trading capacity is 1603083 shares versus to its average trading volume of 1937194 shares. The company’s stock’s lowest price point for the session stood at $22.25. SABR traded as low as $ OTTW in the past 52 weeks, and shares hit its peak level to $26.4.
On Nov. 5, 2019, Sabre Corporation (NASDAQ:SABR) the leading technology provider to the global travel industry, revealed a new content distribution agreement with Pakistan International Airlines. As the country’s national flag carrier, the agreement will provide Sabre’s extensive network of travel agents with both domestic and international content via its rich global travel marketplace.
Joining Sabre’s leading Global Distribution System will have a positive impact on both Pakistan International Airlines and the country’s travel economy. In addition to reinforcing a long-term partnership, the agreement with Sabre supports the carrier’s business strategy by driving its expansion and profitability, tapping into code-share and partnership sales, and expanding ancillary sales. Moreover, ‘s announcement will also allow Pakistan International Airlines to further strengthen their presence in new markets, such as the United States, as well as locally and across the globe.
With over 9 million of Pakistan’s workforce living abroad, there is a marked demand for travel into the country coming from Europe and the Middle East. Now that Pakistan International Airlines is joining Sabre, content from the carrier will be accessible to over 425,000 Sabre-connected agents around the world. In addition to strengthening international travel to and from Pakistan and reinforcing the carrier’s presence in new regions, this agreement will also help to support domestic demand for air travel, one of the most convenient ways to travel within Pakistan.
Roy Frigo an avid economist and an expert on global politics and economic pressures that can affect market conditions. He has a Masters Degree in Economics from Westminster University with previous roles including Investment Banking.
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