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Article: Stock in Online Travel Sites Take Hit after Move by Continental Airlines.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 25, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Andrea Ahles, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Oct. 25--FORT WORTH, Texas--Shares of online travel sites plummeted Wednesday after Continental Airlines announced that it will eliminate airline ticket commissions paid to Internet travel reservations companies.
In a move to cut costs and hopefully drive more customers to its own Web site, the airline said the commission change affects all Continental tickets booked on the Internet but will not affect tickets sold through traditional travel agents.
Fearing that other airlines may follow Continental's move, investor shares of Fort Worth-based Travelocity ...
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