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Skyscanner increased revenues by 42% to £93 million

  • Published by Ozgur Tore

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Skyscanner announced that its revenues are increased in 2014 by 42% to £93 million, with EBITDA of £20 million. Mobile growth continues to be the key to Skyscanner’s strategy; while over 35 million people around the world planning their travel each month on Skyscanner, a 77% global increase alone in visitors come from visitors on mobile devices. In 2014, Skyscanner’s first hotel and car hire apps were launched globally, while Skyscanner also acquired leading Budapest-based app developer Distinction to accelerate the growth of its in-house mobile development team.

Skyscanner has also further diversified its business in the past 12 months away from flights to travel, with the launch of hotel and car hire apps as well as the establishment of Skyscanner for Business to deliver data-led tools to the travel industry. As a result, the non-flights contribution to overall revenues increased by 47% in 2014.

The third significant area of focus in 2014 was in China, where Skyscanner acquired Chinese metasearch company Youbibi to establish its own product development team for China. Over 2014, there has been a 61% increase in unique monthly visitors from China as well as a 162% increase in mobile visitors. China continues to be a key part of Skyscanner’s growth strategy.

Skyscanner also established new offices in Budapest, Shenzhen and Sofia in 2014 and expanded premises in Glasgow, Singapore and Beijing to accommodate growth in the teams globally.

Shane Corstorphine, Skyscanner’s Chief Financial Officer, said: "It has been a transformational year for Skyscanner and we’ve seen record numbers of people using our website and apps. These additional visitors are the result of an increase in our market share within existing markets, which is pleasing to see. Our primary focus for the year has been investing for future growth, and this approach has been making an impact for us sooner than anticipated. While our revenues continue to be led primarily by flights, the addition of new hotel and car hire products, as well as the creation of our Skyscanner for Business team, has had a key role to play in our growth, which we anticipate will increase over the next year.”

Gareth Williams, Skyscanner’s CEO and co-founder said: “With over 80% of visitors to Skyscanner coming from outside our home market, a focus on delivering to the different needs of travelers wherever they are in the world will remain central to everything we do. Despite our progress, we still see ourselves as being in the early stages of our development as a company, as well as an industry. There is so much more we want to achieve in online travel and we’ve some exciting plans for the year ahead. If we can really change the way that we solve the questions that travelers need to answer, then we will genuinely be able to achieve significant impact in online travel globally.”

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