Galileo International Provides Financial Support To Travel Suppliers

Due to last week’s horrific terrorist attacks affecting people around the world, the airlines, and other companies in the travel industry, Galileo International (NYSE: GLC), a leading provider of electronic global distribution services (GDS) for the travel industry, supported by its prospective owner, Cendant Corporation (NYSE: CD), is reaching out to provide financial support to the airlines and all other travel supplier customers. To assist during this unprecedented period of turmoil in the travel industry, Galileo is extending substantial booking fee credits to its supplier customers. This, in addition to previously announced assistance to travel agency and corporate customers, totals several million dollars of direct support to the industry.

“This is a difficult time for all of us in the travel industry. To rebound from this tragedy will require unity and endurance,” said James E. Barlett, chairman, president and CEO of Galileo. “During this period of adversity, we believe it is absolutely essential to support our customers as we work together to rebuild this dynamic industry.”

Airlines are struggling with reduced schedules and traffic; hotels are experiencing drastically reduced occupancy rates; and all other travel suppliers are grappling with similar hardships. Galileo recognizes it will be some time before travel suppliers resume normal operations.

“While Galileo and its travel suppliers are all experiencing the financial ramifications of this tragedy, we felt as partners in this industry that it is especially important to provide an extra level of support to our supplier customers,” said Cheryl Ballenger, Galileo’s executive vice president and chief financial officer.

Earlier, Galileo extended relief to U.S.-based travel agency and corporate customers, who have also been greatly impacted by this tragedy, by not holding them financially responsible for shortfall fees caused by any drop in bookings during the month of September.