Up, up and away...
By Tony Hallett
Published: 21 May 2002 08:00 GMT
Online US travel venture Orbitz has filed for an IPO despite ongoing investigations from competition authorities.
The company, founded in 2000, sells airline tickets, accommodation, rental cars and other products, and is backed by the largest airlines in the US.
The fact that these airlines offer low rate fares to Orbitz has meant complaints from other travel outfits and US government scrutiny.
Orbitz said Goldman Sachs will lead the offering with Credit Suisse First Boston co-lead manager. Legg Mason Wood Walker and Thomas Weisel Partners will be co-managers. The stock ticker will be ORBZ.
In Europe, Opodo operates along the same lines as Orbitz.
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