Business Wire - CheapAirlines.com Reports Record Sales and Profitability

Business Editors/Hi-Tech Writers

VIRGINIA BEACH, Va.–(BUSINESS WIRE)–Jan. 3, 2001

CheapAirlines.com, headquarted here, today announce a sales increase of over 800% for 2000.

n In addition to the record growth in sales, CheapAirlines.com also posted profits for all four quarters of last year.

Matthew Boughton, CheapAirlines.com President/CEO, made the announcement and said that many “creative” and “smart” business decisions have contributed to their success.

CheapAirlines.com, established in 1998, offers travelers the opportunity to book travel reservations online with over 700 airlines, 54 car rental agencies, and more than 45,000 hotel properties around the world.

“We are very pleased with the preliminary report showing the extraordinary increase in online sales for 2000,” Boughton said. “Our explosion with online sales is mostly contributed to our user friendly reservation system, discounted airfares with selected major airlines, and our ’shop’ for services attitude with partnerships and B2B requirements.” Boughton continued to say, “Travelers are online searching for the best deal in air travel, CheapAirlines.com has the same idea when it comes to our B2B needs. We carefully research and analyze how we spend our capital, this is the key in profitability and success on the internet.”

When asked whether CheapAirlines.com had any plans of going public Boughton said, “We are posting records sales and profits, why change something that is clearly working for our company. CheapAirlines.com is a privately held and we continue to hold the capital needed for record growth.”

CheapAirlines.com is an online real time discount travel agency, where you can book domestic and international flights, arrange for rental cars and book hotel rooms, all at the click of your mouse. You can either specify particular airlines, rental car companies, hotel chains etc., or CheapAirlines.com can search based on the lowest prices available.