SOUTHLAKE, Texas, Jan 02, 2004 /PRNewswire-FirstCall via Comtex/ — Sabre Holdings (NYSE: TSG) 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.
SOURCE Sabre Holdings Corporation
media, Michael Berman, +1-682-605-2397, or investor relations, Karen Fugate, +1-682-605-2343, both of Sabre Holdings Corporation
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