Posted July 19, 2005 - New York City

Navigant Protects Shareholders In Case Of Takeover

Navigant International today announced it adopted a Stockholder Rights Plan to distribute 'preferred stock purchase rights' as a dividend for holders of common stock as of July 29. The move is designed 'to prevent an entity or person from gaining control of the company without paying all stockholders a fair price for their shares,' Navigant said. Read More »
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Posted July 18, 2005 - New York City

GDSs Rewrite Contracts For Changing Market

Travel management companies and global distribution system providers are negotiating new clauses into their contracts that prepare for possibilities including lost airline content, reduced airline segment fees and the potential for agencies to use multiple and alternative systems. Read More »
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Posted July 14, 2005 - New York City

Hulett Out, Rosner In At Expedia Corp. Travel

Expedia today announced that Matt Hulett is departing his role as global leader of Expedia Corporate Travel, to be replaced by former Hotels.com president Cheryl Rosner. Rosner previously held executive positions with Ian Schrager Hotels, Kimpton Hotels and Four Seasons. Read More »
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Posted July 13, 2005 - New York City

Navigant Delisted

Navigant International's common stock was taken off the Nasdaq today as the company's annual and first-quarter financial reports remained delinquent. Navigant's stock can be traded on the Pink Sheets over-the-counter securities markets, using the symbol FLYR.PK. Read More »
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Posted July 13, 2005 - New York City

Backing Off Amex Accounts, TBiz Looks Large Anyway

Sabre Holdings is restricting the extent to which its Travelocity Business sales people can solicit clients of American Express Business Travel, sources told The Beat, following the selection of TBiz by such Amex clients as Aetna and McKesson. A Sabre spokesperson yesterday would not describe the limitations, noting only that American Express is the largest agency distributor of Sabre's GetThere corporate booking tool. Read More »
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Posted July 12, 2005 - New York City

TRX Seeks About $37 Million In IPO

TRX Inc. estimated that it would raise $36.9 million after expenses in its proposed initial public offering, in which the company and a group of owners would each sell 3.4 million shares for $11 to $13 per share. 'We intend to use the proceeds from this offering for general corporate purposes, including working capital and capital expenditures,' TRX said in a filing yesterday with the Securities and Exchange Commission. Read More »
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Posted July 7, 2005 - New York City

ASTA Drops G2 Gripe; Airline Investment Details Revealed

The American Society of Travel Agents this week dropped its request for federal investigation into airline investments in G2 SwitchWorks. ASTA in May joined the Business Travel Coalition in requesting inquiries by the Departments of Justice and Transportation, following a G2 announcement that five major airlines had agreed to pre-pay for up to eight million tickets processed by G2 in exchange for discounts and equity. Read More »
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Posted July 5, 2005 - New York City

TQ3, BCD Raise Stakes In Navigant

Germany's TQ3 Travel Solutions today disclosed it spent nearly $4.4 million last week to raise its stake in Navigant International to 1.7 million shares, or 11 percent. The purchase followed increased investment in Navigant by an affiliate of BCD Holdings, which between June 21 and June 27 spent $3.4 million for 242,596 shares to take its position up to 1.8 million shares. Read More »
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Posted July 1, 2005 - New York City

Sabre To Cut More Jobs Amid Tech Migration

Sabre Holdings Corp. yesterday said that between next month and the end of 2005 it would reduce its Texas-based Product and System Delivery Group by 120 to 150 employees, saving about $13 to $16 million in 2006. Read More »
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Posted June 30, 2005 - New York City

GDS Firms Engage ITSA For New-entrant Issues

Global distribution system providers are tapping the Interactive Travel Services Association to speak out about the emergence of what ITSA describes as limited travel distributors, and what United Airlines called GDS new entrants. Following meetings earlier this year, ITSA added to its agenda an initiative designed to educate the industry, the public and the media about what GDSs do. Read More »
Posted by: Jay Campbell | More by Jay Campbell
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