GALILEO INTERNATIONAL BIDS ON WORLDSPAN STAKE

Galileo International, Inc. (NYSE: GLC), a leading electronic global distribution services (GDS) provider for the travel industry, announced it has submitted a $220 million bid for Trans World Airlines’ (TWA) 26 percent stake in Worldspan, a U.S.-based GDS company.

“In today’s environment where consolidation and partnerships are re-defining the travel industry, the auction of TWA’s stake in Worldspan presents Galileo with a unique opportunity,” said James E. Barlett, chairman, president and CEO of Galileo International.

AMR, parent company of American Airlines, had earlier agreed to acquire substantially all of TWA’s assets, setting a $200 million value on its Worldspan stake. Galileo’s bid, filed by the bankruptcy court’s Feb. 28 deadline, met the minimum amount established by the bankruptcy court judge. Galileo’s bid is contingent on various terms and conditions, including satisfactory completion of due diligence, securing financing and amending the Worldspan partnership agreement to incorporate Galileo’s interests. The TWA creditors’ committee will be the determining factor on whether Galileo’s or any bids will be accepted.

“We continue to believe very strongly that the GDS business is a great business and is essential to the travel industry. Our high regard for the Worldspan organization and its airline owners makes this a value-enhancing opportunity,” said Barlett.

Galileo continues to pursue select strategic alternatives and believes that interested parties will view this proposed transaction positively.