Multiplus profit eases, US DoT wades into American Airlines distribution fight
Multiplus, the frequent flyer unit of TAM, reported a 2.8% year-on-year decline in net profit to USD26.0 million on an 8.4% increase in revenue to USD194.9 million in the three months ended 31-Dec-2010. Multiplus shares finished the day 1.4% higher
Shares in Indian IT supplier, NIIT Technologies, surged 6.4%. The stock has been trading strongly upwards since last week, gaining 11.5% over the last three days of trading.
US Department of Transportation has wrote to Sabre, Travelport, Amadeus, Expedia, Orbitz Worldwide and Travelocity.com cautioning them against showing bias in their displays of fare and flight information. The letter was sent on 01-Feb-2011. The caution was delivered as American Airlines battles Sabre and Expedia over the airline’s plans to use its own distribution technology. Shares in Expedia were up 1.8% yesterday, while Amadeus gained 0.8%.
Selected Others daily share price movements (% change): 15-Feb-2011