Gross bookings through Cheap Tickets` Web site are now growing faster than through any of the company`s other distribution channels, with the site now having 10 million subscribers.
Internet bookings for the year grew 78% in 2000 over the previous year, reflecting $255.4 million in gross bookings and accounting for 38% of gross bookings.
Cheap Tickets` first subscriber registered on 3rd October, 1997, the day that the Web site debuted. Subscriber numbers hit 100,000 in June 1998; 1 million in May 1999; 5 million in May 2000; 9 million in January 2001; and have now exceeded 10 million.
Cheap Tickets has continued strong growth into 2001 with record-breaking registration levels through January and February. On average, 20,000 Internet users registered each day during these months.
In 2000, Cheap Tickets went from being solely an airline-focused company to offering a complete range of airfares, car rentals, hotel rooms and cruises, both on and offline. The company has posted eight consecutive quarters of profitability, reporting earnings of 58 cents a share for 2000.