Travelport, parent company of the global distribution systems Galileo and Worldspan, posted a 19% drop in fourth-quarter revenue in 2008. Cost-cutting measures helped the company's bottom line, according to chief financial officer Mike Rescoe. "Over two years ago, we started reducing Travelport's cost structure through our re-engineering cost savings and Worldspan synergies programs," Rescoe said. "These actions have better positioned the company to withstand the significant decline in travel demand that has continued to deteriorate throughout the year."

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