Dublin-listed company is likely to seek to raise further debt finance in the meantime
Group chairman, David Hargaden, and chief executive, Sean Corkery, declined to comment on the funding plans when asked by The Irish Times after Datalex’s annual general meeting on Thursday, other than to say than the company will likely issue a statement on its plans within the next month.
Datalex, early last month, said it saw a strong recovery in airline activity across all geographies in the first three months of 2023, after its pretax loss more than doubled last year to $11.4 million amid a delayed rebound in the Chinese market due to Covid-19 lockdowns. Mr Corkery told analysts at a capital markets day in May that a huge growth opportunity from airlines focusing more on ancillary revenues – and a change in its focus from building bespoke systems for airlines to off-the-shelf products where fees are fuelled by transactions – should see its turnover doubling to almost $47 million by 2026.
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