Pan-Asian travel exchange to complement its market expertise with the technology know-how of
The yet-to-be named exchange, which aims to be the region`s leading online travel retailer, will be launched by 11 of the region`s premier airlines and is set to commence operations by mid 2001 offering a full spectrum of travel services, including airline tickets, hotels, car hire, packages and tours and will cater to market-specific needs, an important feature for any e-commerce company in this region, due to the rich mix of cultures and languages across Asia-Pacific.

In addition to being the primary technology provider and a shareholder, Travelocity will also be co-branded on the Website.

The Asia-Pacific on-line travel exchange is an independent organisation aiming to provide fast and effective access to a comprehensive range of travel products and services for Asia-Pacific travellers. An independent senior management team is currently being recruited to lead the organisation. Its objectives include becoming the region`s market-leading on-line travel service and the pre-eminent provider of consumer focused on-line travel products and services to the region`s travel industry.

Cathay Pacific`s Deputy Chairman and Chief Executive David Turnbull said: “Our involvement with this venture will give our passengers yet another choice when making their travel plans. Travelocity has enormous online travel technology experience and will bring a great deal of value to the whole venture.”

Travelocity President and Chief Executive Officer Terrell B. Jones said: “We are excited to be a part of this new venture in Asia-Pacific. It is an excellent opportunity to bring together our technology expertise with a company that knows the Asia-Pacific market place so well.”

In addition to Air New Zealand, Ansett Australia, Cathay Pacific Airways, China Airlines, Malaysia Airlines, Qantas Airways, Royal Brunei Airlines, and Singapore Airlines, Eva Air, Garuda Indonesia and Silk Air have recently joined the exchange.

The Japanese joint venture, which is currently being launched by All Nippon Airways, Japan Airlines, Northwest Airlines and United Airlines, will also participate via cross equity between the joint venture and the Asia Pacific travel exchange.

Travelocity is the largest online travel company and the third largest e-commerce company in the world, with more than ten million airline tickets sold and more than 24 million members. Headquartered in Fort Worth, Texas, Travelocity provides online reservations capabilities for 95% of all available airline seats sold, over 49,000 hotels, over 50 car rental companies, and more than 5,000 vacation and cruise packages.

Booz.Allen & Hamilton and The Giga Information Group have been working closely with the partner airlines to develop the strategy and implementation plans for the exchange.
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