Orbitz, which runs travel deals site Orbitz.com, is considering a possible sale, according to Bloomberg. The company’s stock is up ~10% on the news.
The company is working with a financial advisor to reach out to potential buyers, sources tell Bloomberg’s Alex Sherman and Matthew Campbell. The company, which went public in July 2007, has a market value of $US1 billion and runs Cheaptickets.com as well as Orbitz.com.
Orbitz could pull in a record $US932 million in revenue this year, analysts estimate, in part because U.S. travel is up thanks to the lowest fuel prices in six years.
Orbitz is reportedly drawing interest from private-equity funds and other internet companies.