Travelocity trims losses in 4th quarter, year

Travelocity.com narrowed its fourth quarter and 2001 net losses and contended that it is well-positioned for 2002 despite setbacks from Sept. 11.

“In an industry that had an average decline in travel bookings of 15%, we grew 27%,” said Terry Jones, Travelocity`s chief executive officer.


Jones was referring to $3.1 billion in gross travel bookings in 2001 compared with $2.5 billion a year earlier.


The net loss for the fourth quarter was $25 million or 50 cents per share compared with $26.2 million and 53 cents per share in the year-earlier quarter.


For the year, Travelocity`s net loss was $84.4 million or $1.70 per share compared with $109 million and $2.11 per share in 2000.

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Revenue for the quarter was $68.1 million compared with $65.5 million in fourth-quarter 2000. Revenue for the year was $301.8 compared with $192.6 million in 2000.


Travelocity indicated that a key highlight of the quarter was adding Continental and other carriers to multiyear agreements that gave the online agency access to special fares and opaque fares, plus participation in marketing programs.


Travelocity, majority-owned by Sabre, has comparable partnerships with America West Airlines, JetBlue Airways, British Airways and others.

www.travelocity.com

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