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TRANSPORTATION
Orbitz takes off; clear sky ahead
After facing antitrust scrutiny and other challenges, the travel Web site officially opened for business. Orbitz, backed by American, Continental, Delta,Northwest, United and other airline giants, provides access to low-cost air fares, rental cars, lodging, cruises, vacation packages and other travel deals.Orbitz already has some 175,000 registered users and has sold $3.5 million in tickets.
United's UAL buys MyPoints.com
United NewVentures, the online unit of United Airlines' parent UAL Corp., will buy the online marketer for $106 million cash, or $2.60 a share. That's a 63% premium over MyPoints' Friday close. MyPoints.com offers incentives for users who buy from advertisers or choose to receive special offers by e-mail. Its clients include Continental Airlines and Alaska Airlines. United wants to link MyPoints' direct marketing services with its united.com Web site and its Mileage Plus frequent flier program. It'll be able to send special offers to MyPoints' 16 million users.
American Airlines' parent AMR Corp.'s CEO Donald Carty said some of the weakness in U.S. air travel has spread abroad. He said talks with flight attendants have been "difficult," but doesn't see a strike because he expects President Bush to prevent a work stoppage.
F-150, Ram get poor test marks