Three Carriers Sell Fare Database
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AMR Corp.’s American Airlines, Northwest Airlines Corp. and Delta Air Lines Inc. received a combined $954 million in cash, notes and future services from the sale of Worldspan, a fare database for travel agents.
The carriers agreed in March to sell Worldspan to Travel Transaction Processing Corp., owned by CitiGroup Venture Capital Equity Partners and Teachers’ Merchant Bank, a unit of Ontario’s retiree fund for teachers. The airlines sold Worldspan to raise cash and stem losses caused by a slump in travel.
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