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Google to Purchase ITA Software

Posted Jul 2nd 2010 12:30PM by Mark Fightmaster (RSS feed)
Filed under: Google (GOOG)

Google News is surfacing that Google (GOOG) will purchase ITA Software. ITA is a technology company that owns specialized software that enables customers to find "sophisticated flight information." The acquisition will allow Google users to comparison shop for airline tickets.

Before we get all excited about how much money this is going to add to Google's bottom line, remember that it will not be earning money on tickets sold as the company is not entering the travel business. That said, this acquisition and the airline search service could drive more traffic to Google (if that is even possible), which leads to more page views, which leads to more money.

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Passenger Revenue Increases for Airlines, First in 14 Months

Posted Feb 24th 2010 4:25PM by Mark Fightmaster (RSS feed)
Filed under: Economic Data, Financial Crisis

After 14 months of passenger revenue decline, the Air Transport Association (ATA) announced that "a sampling" of U.S. carriers showed an increase of 1.4% in January compared to a year earlier. The ATA stated that roughly 0.4% fewer passengers traveled on U.S. airlines in January, the average price to fly a mile increased 0.6% - marking the first increase since November 2008.

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Continental Airlines posts a first-quarter loss, but tops expectations

Posted Apr 22nd 2009 10:30AM by Mark Fightmaster (RSS feed)
Filed under: Earnings Reports, Contl Airlines'B' (CAL)

It was a rough first quarter for Continental Airlines (NYSE: CAL), as the air carrier announced that it lost $136 million thanks to falling traffic. In addition, CAL saw a large amount of business travelers switching out of first class to save a few bucks in coach. During the quarter, CAL lost $1.10 per share. Excluding charges, CAL would have lost $1.07 per share. While the loss was larger than last year's first-quarter loss of 82 cents per share, CAL did manage to beat the Street's expected loss of $1.19 per share.

Quarterly revenue dropped to $3 billion from $3.57 billion last year, slightly higher than the expected $2.98 billion. CAL saw sales drop across all regions, with the U.S. and trans-Atlantic routes falling the most. CAL saw traffic drop 11.2% compared to a year ago, with empty planes outweighing the flights CAL cut. The company noted that it was helped by dropping fuel prices, as it spent nearly 42% less on fuel compared to a year ago.

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