Highest-materiality recent filing
GBTG reports 3% Q1 and 6% Q2 transaction growth in M&A debt financing disclosure
Transaction growth (workday-adjusted) was 3% YoY in Q1 2026 and 6% YoY in Q2 2026 QTD (April + preliminary May).
GBTG shareholders elect three Class I directors, approve equity plan amendment
Directors Paul Abbott, Eric Hart, Kathleen Winters elected with >396M votes each; broker non-votes ~3.4M.
GBTG CTO John David Thompson to depart May 31; equity vesting extended through Nov 2026
EVP, Chief Technology Officer John David Thompson's employment terminates May 31, 2026.
Amex GBT Q1 revenue up 35% to $840M; net income falls 28%, FCF turns negative
Revenue $840M (+35% YoY); Net income $54M (-28%) vs $75M a year ago.
GBTG to be acquired by Long Lake for $9.50 per share in cash
Acquisition price of $9.50 per share in cash; holders of ~69% of shares have agreed to vote in favor via voting agreements.
Q4 revenue $792M (+34% YoY), net income $83M vs loss $14M prior year.
Amex GBT corrects buyback to $600M; Q4 prelim rev +34% to $792M, net income $83M
Corrects prior 8-K: share repurchase authorization increased to $600M (doubled; increase of $300M).
Amex GBT prelim Q4 revenue $792M (+34%), net income $83M, buyback doubled to $600M
Revenue grew 34% to $792M; TTV up 45% to $10B; net income $83M vs loss of $14M prior year.
GBTG reduces interest margin on term loans by 0.50%, adds $100M incremental borrowing
Amendment lowers SOFR margin to 2.00% (down 0.50%) on new Term B-2 loans; previous margin was 2.50%.
GBTG files CWT audited FY2024 and unaudited H1 2025 financials, plus pro forma combined data
CWT audited 2024 revenue and H1 2025 unaudited statements provided as Exhibits 99.1 and 99.2.
Amex GBT Q3 revenue up 13% to $674M, raises FY Adj EBITDA guidance to $523-533M
Q3 revenue $674M (+13% YoY); net loss improved to $62M from $128M.
Amex GBT completes acquisition of CWT for ~$540M; $155M annual synergies expected
Issued 50.4M shares of Common Stock as consideration; valued at ~$540M on cash-free, debt-free basis.
Amex GBT Q2 beats: revenue $631M, Adj EBITDA $133M; raises FY guidance; CWT closing Q3
Revenue $631M (+1% YoY); Adj EBITDA $133M (+4% YoY); margin 21% (+70bps).
GBTG shareholders elect four Class III directors and ratify KPMG as auditor at annual meeting
All four director nominees elected: Al-Thani (399.9M for), Joabar (397.0M), O'Hara (393.3M), Wallach (396.4M).
Amex GBT Q1 revenue $621M (+2% YoY), Adj EBITDA $141M (+15%); lowers FY guidance midpoint 6%
Q1 revenue $621M (+2% YoY; +4% constant currency workday-adjusted).
Amex GBT revises CWT deal to ~$540M, issues 50M shares at $7.50, extends deadline to Dec 31, 2025
Transaction value reduced to ~$540M from $570M on cash-free, debt-free basis; fixed stock price raised to $7.50/share from $6.00.
UK CMA approves Amex GBT's acquisition of CWT; US DOJ lawsuit continues
UK Competition and Markets Authority approved Amex GBT's acquisition of CWT.
Director Mohammed Al-Sowaidi resigns; Ugo Arzani appointed to GBTG Board
Mohammed Al-Sowaidi resigned from Board and committees effective Feb 27, 2025; not related to any disagreement.
Q4 2024 revenue $591M (+8% YoY); Adjusted EBITDA $110M (+39% YoY); margin 19% (+420 bps).
UK CMA provisionally clears Amex GBT's acquisition of CWT; final decision by March 9
UK CMA provisionally found no competition concerns in GBT's proposed acquisition of CWT; final decision by March 9, 2025.
GBTG reprices term loans, reduces interest margin by 0.50% to SOFR+2.50%
Amendment cuts interest margin on outstanding term loans by 0.50%; new margin is SOFR+2.50% (or Base Rate+1.50%).
GBTG extends CWT merger deadline to Mar 17, 2025 pending CMA report
Drop Dead Date extended from Jan 24, 2025 to earlier of Mar 17, 2025 or 10 business days after CMA's final report.
GBTG challenges UK CMA interim report on CWT acquisition; reaffirms Q1 2025 close
UK CMA interim report says Amex GBT's acquisition of CWT may substantially lessen competition in UK.
Amex GBT Q3 revenue $597M (+5% YoY), raises FCF guidance to ~$160M, authorizes $300M buyback
Revenue $597M (+5% YoY); TTV $7.8B (+9%); Adjusted EBITDA $118M (+23%, margin 20% up 300bps).
Amex GBT Q2 revenue $625M (+6% YoY), adj. EBITDA $127M (+20%); raises FY FCF guidance to >$130M
Revenue $625M (+6% YoY); Adjusted EBITDA $127M (+20%); margin expanded 240bps to 20%.
Amex GBT expects CWT acquisition to close in Q1 2025; UK CMA to Phase 2 investigation
Proposed CWT acquisition now expected to close in Q1 2025.
Amex GBT refinances credit facility, extends term loan maturity to 2031, upsizes revolver to $360M
New $1.4B term loan at SOFR+3.00% (margin reduction ~180 bps); matures July 26, 2031.
Global Business Travel Group reports annual meeting vote results; all proposals approved
Four Class II directors elected with large majorities; Mohammed Al-Sowaidi received 394.1M votes for.
GBTG posts record Q1 EBITDA; agrees to acquire CWT for $570M
Q1 revenue $610M (+6% YoY); record Q1 Adjusted EBITDA $123M (+24% YoY).
GBTG to acquire CWT in ~$570M enterprise value deal; to issue 72M shares and pay $70M cash
Acquisition of CWT implies equity value of ~$500M; transaction structured as two-step merger.
Amex GBT Q4 revenue $549M, Adj. EBITDA $80M (+83% YoY); guides 2024 EBITDA $450-500M
Full-year 2023 revenue grew 24% and Adjusted EBITDA rose 269% to $380M, above initial guidance.
GBTG enters amended shareholders agreement; QIA replaces Juweel as party
Amended shareholders agreement removes Juweel and adds QH Travel L.P. (QIA) with board nomination and approval rights.
GBTG Q3 revenue up 17% YoY; Adjusted EBITDA +135%; positive year-to-date free cash flow
Revenue grew 17% and Adjusted EBITDA rose 135% versus Q3 2022.
Amex GBT Q2 revenue record $592M, +22% YoY; raises FY guidance
Revenue $592M (record), up 22% YoY; Adjusted EBITDA $106M, +126% YoY.
GBTG eliminates UP-C structure; all shares now Class A common stock
Legacy stockholders (Amex, Juweel, Expedia) exchange all B Shares for Class A common stock.
GBTG stockholders elect three Class I directors; advisory vote favors triennial say-on-pay
Paul Abbott, Eric Hart, Kathleen Winters elected as Class I directors for three-year term expiring 2026.
GBTG Q1 2023 revenue $578M (+65% YoY); Adjusted EBITDA $99M; net loss $27M
Revenue of $578M, up 65% vs Q1 2022; net loss of $27M.
Global Business Travel Group says no cash deposits or securities at Silicon Valley Bank
Company holds no cash deposits or securities at Silicon Valley Bank.
Amex GBT Q4 revenue $527M (+84% YoY); FY2022 Adj EBITDA $103M, ahead of guidance
Full-year 2022 revenue $1.85B, Adjusted EBITDA $103M; Q4 revenue $527M, net loss ($63M).
Global Business Travel Group names Karen Williams as CFO, succeeding Martine Gerow
Martine Gerow resigns as CFO; will continue through June 30, 2023 for transition.
Global Business Travel Group secures $135M additional term loans; plans $20-25M restructuring
Entered $135M incremental term loan under existing credit agreement; proceeds for Egencia integration, SME growth, efficiencies.
Stockholders approve stock option exchange program at special meeting
Special meeting held January 6, 2023; proposal to exchange outstanding stock options for RSUs approved.
Global Business Travel Group appoints Andrew Crawley as President
Andrew Crawley, previously Chief Commercial Officer, named President effective January 5, 2023.
Amex GBT Chief Revenue Officer Qualantone to retire; Ahluwalia named EVP successor
Michael Qualantone, Chief Revenue Officer, to retire after 34-year career with American Express and Amex GBT.
Amex GBT Q3 revenue up 147% to $488M; reiterates FY22 guidance
Revenue $488M (+147% YoY); recovery at 72% of 2019 levels (vs 65% in Q2).
94.60% of Public Warrants (25.8M) and 100% of Private Warrants (12.2M) tendered, approving the Warrant Amendment.
GBTG completes warrant exchange, tenders 94.6% of public and all private warrants
25,768,514 public warrants (94.64%) and 12,224,134 private warrants (100%) tendered.
GBTG warrant exchange offer S-4 effective; expires Oct 7; 40.56% of Public Warrants tendered
Registration statement declared effective Oct 3, 2022; offer set to expire Oct 7 at 11:59 p.m. ET.
GBTG offers 0.275 shares per warrant in exchange; 40.56% of public warrants already committed
Exchange offer for all 39.45M outstanding warrants (27.23M public, 12.22M private) at 0.275 shares per warrant, up to 10.85M shares issued.
Amex GBT Q2 revenue up 217% to $486M, positive Adj. EBITDA $47M, raises FY guidance
Revenue $486M (+217% YoY); net loss $2M; positive Adj. EBITDA $47M.
On May 12, 2026, Global Business Travel Group, Inc. (the “ Company ”) announced that the employment of Mr. John David Thompson, the Company’s EVP, Chief Technology Officer, will terminate on May 31, 2026 (the “ Departure Date ”).
On February 26, 2025, the Board appointed, effective as of February 27, 2025, Mr. Ugo Arzani to fill the vacancies on the Board and its Risk Management and Compliance and Nominating and Corporate Governance Committees created by Mr. Saif S.S. Al-Sowaidi’s resignation.
On February 26, 2025, Mr. Mohammed Saif S.S. Al-Sowaidi notified the Board of Directors (the “Board”) of Global Business Travel Group, Inc. (the “Company”) of his intent to resign from his position as a member of the Company’s Board and its Risk Management and Compliance and Nominating and Corporate Governance Committees, after serving on the Board since May 2022.
On March 6, 2023, Karen Williams was appointed as CFO, effective as of July 1, 2023.
On March 1, 2023, Martine Gerow, the Chief Financial Officer (“CFO”) of Global Business Travel Group, Inc. (the “Company”) notified the Company of her decision to resign as CFO to take a position outside the Company.
On January 5, 2023, American Express Global Business Travel, operated by Global Business Travel Group, Inc. (the “Company”), appointed Andrew Crawley, the Company’s Chief Commercial Officer, to the office of President, effective immediately.
transition his role to Rajiv Ahluwalia, EVP of Global Supplier Partnerships, effective January 1, 2023.
Michael Qualantone, the Chief Revenue Officer of Amex GBT, operated by Global Business Travel Group, Inc. (the “Company”), will retire from the Company at the end of June 2023 and transition his role to Rajiv Ahluwalia, EVP of Global Supplier Partnerships, effective January 1, 2023.
Effective as of the consummation of the Business Combination, Paul Abbott, Eric Hart and Kathleen Winters were appointed as Class I directors, James P. Bush, Richard Petrino, Mohammed Saif S.S. Al-Sowaidi and Susan Ward were appointed as Class II directors and Gloria Guevara Manzo, Raymond Donald Joabar, Michael Gregory (Greg) O’Hara and Itai Wallach were appointed as Class III directors
Effective as of the consummation of the Business Combination, Paul Abbott, Eric Hart and Kathleen Winters were appointed as Class I directors, James P. Bush, Richard Petrino, Mohammed Saif S.S. Al-Sowaidi and Susan Ward were appointed as Class II directors and Gloria Guevara Manzo, Raymond Donald Joabar, Michael Gregory (Greg) O’Hara and Itai Wallach were appointed as Class III directors
Sanjay Patel, Scott Kleinman, Jennifer Fleiss, Mitch Garber and James H. Simmons III ceased serving on APSG’s board of directors.
Effective as of the consummation of the Business Combination, Paul Abbott, Eric Hart and Kathleen Winters were appointed as Class I directors, James P. Bush, Richard Petrino, Mohammed Saif S.S. Al-Sowaidi and Susan Ward were appointed as Class II directors and Gloria Guevara Manzo, Raymond Donald Joabar, Michael Gregory (Greg) O’Hara and Itai Wallach were appointed as Class III directors
Max materiality 0.95 · Median 0.65 · Most common event earnings