Strengthens Alliances with Et-China and Webjet to Increase
Technology Development
HONG KONG, March 4 /PRNewswire-FirstCall/ -- Galileo International, a
leading global distribution services company and subsidiary of Cendant Corp.
(NYSE: CD), today announced it has strengthened strategic relationships with
leading technology companies in both China and Australia as part of its
continuing strategy to invest and grow in travel markets outside of the United
States.
In separate actions, Galileo has announced it has established an exclusive
alliance with Et-China, a pioneer of electronic ticketing in China, and also
strengthened its existing relationship with Webjet, a leading Australian
online retail travel site. In both associations, Galileo will help these
growing companies develop new technology and applications to benefit the
regional travel markets over the long term.
"Galileo is committed to continued success in the Asia Pacific region and
these alliances demonstrate our willingness to invest in the growing
opportunities we see in the China and Australia travel technology markets,"
said Sam E. Galeotos, president and chief executive officer of Galileo
International and Cendant Travel Distribution Services. "We believe these
companies have the right models to help Galileo capture new customer
opportunities and increase market share. We look forward to leveraging
Galileo and Cendant's depth and experience to help these partners accelerate
development and deliver new innovations to the Asia-Pacific region."
In China, Et-China is a leader in the travel technology sector. As part
of its alliance, Galileo will support and help accelerate Et-China's
distribution of travel applications such as online booking and e-ticketing in
the China market, which remain in early development stages. Et-China recently
announced an exclusive e-ticketing sales and services joint venture with China
Southern Airlines, the largest airline in China and one of Et-China's founding
shareholders.
"As the pioneer in global distribution services, Galileo was doing
'e-business' before the term was coined and I'm confident Galileo and Et-China
will be able to develop new e-business streams in the future to the benefit of
the travel marketplace in China," said Et-China President and CEO Matthew
Chik-hui Ng. "Moreover, I expect this technology partnership will enable
Et-China to work more closely with the Cendant group of companies for mutual
benefit in the China market."
As part of its expansion plans, Webjet, a leading Australian online retail
travel Web site, has initiated a $3.6 million (Australian) funding program to
help the company continue its growth. Galileo is participating in this
program and cooperating with Webjet to develop new Web-based technology and
actively participate in Australia's growing online travel market. As a
result, Galileo will increase its stake in Webjet, from the 4 percent it
purchased in 2001 to approximately 15 percent upon completion.
"This development program is enormously significant for our company as it
cements our association with Galileo, which we consider to be the most
progressive and customer-oriented global distribution system in the world,"
said David Clarke, Webjet's Managing Director. "And through its ultimate
ownership by Cendant Corp., this relationship provides extraordinary
opportunity for the marketing of products from the Cendant travel brands."
According to PhocusWright, the Asia Pacific travel market is expected to
approximately triple over the next three years from US$4.6 billion in 2002 to
US$13.5 billion in 2004.
"In today's global travel market it is important to look ahead and
anticipate where the industry is heading," said Janie Kaung, executive vice
president of Galileo's Asia Pacific Region. "As part of Cendant, Galileo is
moving beyond just customer services to becoming a long-term business partner
for the industry's dynamic players. Et-China and Webjet are both excellent
examples of the kinds of businesses we wish to work with and we look forward
to helping them meet the growing demands of travelers well into the future."
The financial terms of these strategic alliances are not material to
Cendant.
ABOUT GALILEO INTERNATIONAL
Galileo International (http://www.galileo.com ) is a global technology
leader. Its core business is providing electronic global distribution
services for the travel industry through its computerized reservation systems,
leading-edge products and innovative, Internet-based solutions. Galileo is a
value-added distributor of travel inventory dedicated to supporting its travel
supplier, agency and corporate customers and, through them, expanding traveler
choice. A subsidiary of Cendant Corporation (NYSE: CD) and part of Cendant's
Travel Distribution Services Division, Galileo is headquartered in Parsippany,
NJ, and has offices worldwide.
ABOUT Et-CHINA
Et-China is the first online travel agency in China to provide airline
booking capability, providing real-time online ticket reservation, online
payment and ticket delivery services to corporate and high-end leisure
travelers within and from China. With more than 200 corporate customers,
including the Chinese subsidiaries of many leading global corporations,
Et-China is now the largest corporate travel service and solution provider in
Southern China. Since it was founded in January 2000, Et-China has tripled
its gross revenue each year on a compounded basis.
ABOUT WEBJET
Webjet is an independent online travel agency and a public Australian
company (ASX: WEB), having been listed on the Australian Stock Exchange in
March 2000. Its Web site is located at http://www.webjet.com.au .
SOURCE Galileo International
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Related links:
http://www.galileo.com
http://www.webjet.com.au
CONTACT:
Stuart Ridsdale of Galileo Asia,
+852-2821-2301, stuart.ridsdale@galileo.com; or Galileo US
inquiries, Travel Distribution Services, +1-973-496-5870,
TDS.CorpCom@cendant.com
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