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Orbitz to go public
Orbitz, the online travel company owned by the five largest U.S. airlines, has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering.
Orbitz has not yet stated how many shares it will offer or at what price.
Commenting on the announcement, Jared Blank, analyst at Jupiter Media Metrix, said: “”The IPO gives Orbitz financial wiggle room, should the airlines decide to cut back their financial support. The airlines, most of which will be in the red for 2002, cannot fund an unprofitable Orbitz forever.”
When available, a copy of the preliminary prospectus relating to the offering may be obtained from Goldman Sachs & Co. at 85 Broad Street, New York, NY 10004, (212) 902-1000 or from Credit Suisse First Boston at 11 Madison Avenue, New York, NY 10010, (212) 325-2000.
Below is the ranking of the top 10 travel-transaction sites in the US according to unique visitors, as well as travel revenue forecasts.
Top 10 Travel-Transaction Sites, US, Unique Visitors, April 2002
Traffic to all Travel-Transactions Sites: 36,309,000
1. Expedia Travel 12,054,000
2. Travelocity 8,852,000
3. Trip Network Inc. 8,807,000
4. Orbitz.com 8,347,000
5. Southwest.com 5,916,000
6. Hotwire.com 4,992,000
7. AA.com 4,756,000
8. Priceline.com 4,124,000
9. Yahoo! Travel 3,940,000
10. Delta.com 3,798,000
source: Jupiter Media Metrix
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