September 16, 2007 |
Early this month, Orbitz launched a beta version of Traveler Update, updates.orbitz.com, a networking site for the nation's fliers. It could help travelers navigate 45 of the nation's airports. What's hot: You get real-time security wait times, traffic, average flight delays and more delivered on your computer, cellphone or PDA. What's not: Not all info is helpful -- the generic "lots of activity" at Tom Bradley Terminal was followed by, "All international flights are on time." Huh? -- vani.
July 21, 2007 |
Shares of Orbitz Worldwide Inc., the online travel agency controlled by buyout firm Blackstone Group, fell more than 3% on Friday in their trading debut. The stock lost 50 cents to $14.50. The firm sold 34 million shares Thursday for $15 each, below the range it had planned. Blackstone has been the website's owner for 11 months through its Travelport Ltd. unit, which still owns 60% of Orbitz's stock.
July 20, 2007 |
Orbitz Worldwide Inc., the online travel agency owned by buyout firm Blackstone Group, raised $510 million in an initial share sale Thursday. The Chicago-based company sold 34 million shares at $15 each, less than the range it forecast this month. The stock will begin trading on the New York Stock Exchange today under the symbol OWW. Blackstone, the website's owner for 11 months through its Travelport Ltd. unit, took Orbitz public to capitalize on a surge in global travel.
November 14, 2004
Raising the ante in the battle for business, online travel seller Orbitz says it will offer $50 coupons, good for travel purchases from that site, to customers who find a published online airfare at least $5 lower than the one posted on www.orbitz.com. The "Low Fare Promise" comes with a long list of conditions. Among them: To claim the $50, you must complete an online claim form by midnight Central Time on the day you buy the ticket on Orbitz.
November 4, 2004 |
Orbitz Inc., the Internet travel agency that is being bought by Cendant Corp., posted a 30% jump in third-quarter profit, aided by a surge in hotel business. Chicago-based Orbitz said net income rose to $5.1 million, or 12 cents a share, from $3.9 million, or 10 cents a share, a year ago. The most recent quarter included several one-time items: a noncash charge of $1.4 million for restructuring; $4.2 million in expenses from the Cendant deal; and a $967,000 reversal of tax-related expenses.
September 29, 2004 |
Travel and real estate company Cendant Corp. is close to an agreement to buy online travel site Orbitz Inc. for about $1.2 billion in cash, a source close to the talks said Tuesday. In a deal that could be announced as early as this morning, Orbitz would change hands for about $28 a share, a 35% premium to its closing share price of $20.77 on Tuesday on Nasdaq. Both companies' boards of directors were to meet Tuesday evening to consider approval of the deal, the source said.