Online travel firm Expedia has cut losses from USD 42.
Travel firm slashes losses
4 million a year ago
to USD 4.4 million.
The company saw fourth quarter earnings top USD 15 million after bookings
soared by 78 per cent. Revenues were up 112 per cent year-on-year to USD 78
Company chief Richard Barton said: 'We continued to gain market share this
quarter thanks to the combination of the best technology and the best travel
offering in the online travel business.'
He added: 'During the quarter, consumers turned to the internet to find
lower rates and better package deals that would keep their vacation plans
and business travel plans intact in spite of a weakening economy.
'When business gets softer for our supplier partners, they turn to those
distributors who can deliver the most customers in the most cost-effective
manner. Our ability to do so has been a triple win for our suppliers, our
customers and our business.'