Cheapflights.com, part of the Cheapflights Ltd. family of travel-bargain search sites, launched a year ago and is already profitable at the operating level. The website has had a positive start in the USA, one of the largest and most competitive travel markets in the world. Underlining this is the fact that in May, Cheapflights.com was officially ranked 37th by Hitwise USA*, of all travel agencies’ sites searched online in America.
Cheapflights.com’s success proves that, with a unique business model, a UK dotcom company, can break into the vast US online travel market. The success and recognition of Cheapflights.com by both advertisers and users has been achieved despite the fact that the American office has just two employees.
Cheapflights.com’s content has also grown rapidly in its first year and now boasts deals from over 350 departure points and to 700 destination points. The site publishes over 300,000 deals on a daily basis sourced from a very diverse range of travel providers including Travelocity.com, American Airlines, United, Jetblue, Airline Consolidator, 1800 Fly Europe, Airfare Planet, Latin Discounters and Southwest.
This new transatlantic presence extends and reinforces the Cheapflights brand as well as the Company’s growth. The Cheapflights family of websites now covers accommodation, UK package and short break holidays - in addition to the UK and American flights sites.
In March, the Company recruited its first USA non-executive director, Dan Bricklin, the inventor of the financial spreadsheet and one of the world's most respected software developers.
Hugo Burge, COO of Cheapflights Ltd and President of Cheapflights.com, commented: "We are delighted with the reception Cheapflights.com has received in the States. Entering the USA market is an immense challenge, a challenge that many British companies have alas failed to meet. However, we have always believed in our consumer-focussed service targeted at the travelling public seeking to find the best deals. Cheapflights.com’s swift rise in Hitwise’s US rankings in its first year, demonstrates the American’s public appetite for our unique, lightening-fast and consumer-friendly site which enables consumers to compare travel bargains quickly. No selling. No fees. No registration. Just a great place to get an overview of the market and spot hot deals. The potential of the USA market for a small private company is awe inspiring."
ENDS
* Hitwise USA- based on weekly visits to “ travel agents" category covering circa 700 US companies in the travel agency sector (including budget airlines) which provide planning and organizational services for holiday and travel.
Notes to editors:
Cheapflights pioneered internet travel in the UK in 1996. Cheapflights does not sell flights, or holidays, but provides an online guide to the best travel deals from across the travel industry and was the first web site to introduce 'pay-per-click' revenue generating model into the UK. Depending on seasonal variances, the combined sites receive between 1.5 and 2 million unique users a month The company conservatively estimates that use of the site by consumers has led to travel product sales in 2003 of over £315 million a year by the UK travel industry advertisers on the sites and a projected £500 million for 2004.
Cheapflights is the only top UK travel internet site which is neutral, profitable, privately-owned and growing out of cashflow.
Cheapflights’ mission is to be the No.1 guide to travel deals within each travel sector they address. In addition to Cheapflights.co.uk and Cheapflights.com, Cheapflights Ltd owns a number of travel websites in different international markets including Cheapaccommodation.com, the global accommodation website and the UK site Cheapholidaydeals.co.uk.
Websites:www.Cheapflights.co.uk;
www.Cheapflights.com;
www.Cheapholidaydeals.com;
www.Cheapaccomodation.co.uk;
