recorded 56 million visitors globally for the twelve month period in the period ending June 2007, according to company log files. Unique user traffic for the full month of June was 5.2 million globally, equally split between the UK and USA sites.
According to the company, the launch of Cheapflights’ US site in May 2003 has helped power an increase in sales of 71% a year between 2004 and 2006. The Company is also maintaining its high EBITDA margins as its online media model continues to benefit from the growth of online advertising.
Cheapflights.com, launched in May 2003, has seen hyper-growth with its traffic now matching that of Cheapflights.co.uk. The Company has continued to recruit management and senior staff to facilitate its planned international expansion and continued advance in the UK and North America. The focus has been on the strengthening of its technology.
Commenting Group Managing Director Chris Cuddy said:
“The first six months this year have confirmed our expectations of significant US growth. Our North American growth will be further accelerated by the launch in April of our Canadian site Cheapflights.ca. According to a just released study by industry analysts PhocusWright, Canada’s online travel market is booming and is expected to nearly quadruple between 2004 and 2009. The study confirms that almost one third of all travel in Canada this year will be booked online for leisure and unmanaged business.”
David Soskin, Cheapflights CEO, added:
“Cheapflights’ success is grounded on having the right management to maintain our momentum in staying at the leading edge of available technology and to drive our growth exponentially. We have been fortunate in building a team capable of doing this and to have recently attracted further talent that will help us achieve our goal of becoming a global brand. The next six months will be a very exciting time for the group with considerable effort focussed on new products and upgraded infrastructure for our sites.”