Sabre Holdings Comments on Deregulation of the CRS Industry
January 02 2004 - 3:09PM
PR Newswire (US)
Sabre Holdings Comments on Deregulation of the CRS Industry
SOUTHLAKE, Texas, Jan. 2 /PRNewswire-FirstCall/ -- Sabre Holdings
today made the following comments regarding the U.S. Department of
Transportation's announcement that it will deregulate the computer
reservations system (CRS) industry: "We applaud the Bush
Administration's embrace of full deregulation of the CRS industry,
a victory for consumers and the entire travel industry. This move
will enhance competition and innovation in the travel industry. "We
also applaud the large number of consumer groups, travel agents,
corporations, small business advocates, think tanks and other
travel industry stakeholders, including some airlines, who joined
with us in support of full deregulation and who helped bring about
this result. As a result of our collective effort, twenty-year-old
government regulations are about to sunset. "The existing and
proposed pre-Internet computer reservation system rules were
obsolete and barriers to innovation and growth in today's travel
distribution industry. The proposed rules would have negatively
affected some consumers preferred choice of bookings, in
particular, weakening the travel agency network, upon which many
consumers rely. Free of government restrictions, travel
distribution industry participants will have more opportunities to
form partnerships and alliances for special traveler offerings, and
more opportunities to bring new products to the marketplace." About
Sabre Holdings Corporation Sabre Holdings, an S&P 500 company,
is a world leader in travel commerce, retailing travel products and
providing distribution and technology solutions for the travel
industry. Sabre Holdings supports travelers, travel agents,
corporations and travel suppliers through its companies:
Travelocity, Sabre Travel Network, and Sabre Airline Solutions.
Headquartered in Southlake, Texas, in the Dallas-Fort Worth
Metroplex, the company has approximately 6,000 employees in 45
countries. Full year 2002 revenue totaled $2.06 billion. Sabre
Holdings is traded on the New York Stock Exchange under the symbol
TSG. More information is available at
http://www.sabre-holdings.com/ . Statements in this news release
which are not purely historical facts, including statements about
the effects on the business of Sabre Holdings Corporation of any
changes to the computer reservation system rules announced by the
Department of Transportation or other statements about
anticipations, beliefs, expectations, hopes, intentions or
strategies for the future, may be forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Readers are cautioned not to place undue reliance on
forward-looking statements. All forward-looking statements are
based upon information available to Sabre Holdings Corporation on
the date this report was submitted. Sabre Holdings Corporation
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Any forward-looking statements involve
risks and uncertainties that could cause actual events or results
to differ materially from the events or results described in the
forward-looking statements, including risks or uncertainties
related to the Sabre Holdings Corporation's revenues being highly
dependent on the travel and transportation industries. Sabre
Holdings Corporation may not succeed in addressing these and other
risks. Further information regarding factors that could affect our
financial and other results can be found in the risk factors
section of the Sabre Holdings Corporation's most recent filing on
Form 10-Q with the Securities and Exchange Commission. DATASOURCE:
Sabre Holdings Corporation CONTACT: media, Michael Berman,
+1-682-605-2397, or investor relations, Karen Fugate,
+1-682-605-2343, both of Sabre Holdings Corporation Web site:
http://www.sabre-holdings.com/
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