Atinera Files for Bankruptcy

Amadeus and Fourth Dimension Software (FDS) today
announced the `reorganisation` of their joint-venture company Atinera LLC.


Amadeus

and FDS have an equal participation in Atinera, which was
established in 2000 and is a global provider of travel automation and
management solutions for tour operators and leisure travel companies. 


As part of the reorganisation, Atinera has filed a petition under Chapter 11
in the U.S. Bankruptcy Court for the Northern District of California.
Service and support for Atinera customers are being transferred directly to
Amadeus and FDS.  A small group of Atinera staff are being retained to
oversee the transfer of service and manage the Chapter 11 filing. The
remainder of the company`s employees have been released. Where possible,
both Amadeus and FDS will offer alternative positions to Atinera employees
within their respective organisations. In addition, Amadeus plans to retain
Atinera`s technology license rights for future use. 


Commenting, Philippe Chérèque

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, Senior Vice President - Corporate Strategy
for Amadeus said: “While the current economic and industry circumstances
have proven particularly challenging for Atinera and the niche in which it
operates, Amadeus regards the overall leisure travel market as a significant
business opportunity.  Reflecting this, we will continue to work closely
with leisure travel companies to better understand their evolving needs and
to create specialised solutions for them. Amadeus also values its
relationship with FDS and will evaluate future business opportunities with
them.”


Related stories on ITN:

(12/07/2002) Canada & America Travel Specialists Selects Atinera.

(06/06/2002) Atinera Australian Signings.


(15/05/2002) Atinera goes Sky High with Moguls Contract


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