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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/