American Airlines, FareChase Settle Suit.
Under the terms of the agreement, American will license FareChase's "MarketView" software. American will also grant FareChase special access to AA.com for purposes of mutual benefit to both companies, including the ability to access the AA.com Web site in connection with American's EveryFare(SM) program.
FareChase has agreed to withdraw the appeal it had filed following the issuance of a temporary injunction in March. In exchange for American's consent allowing special access to AA.com, FareChase has agreed to abide by the terms of the temporary injunction on a permanent basis. Further details of the settlement are confidential.
"We are pleased to put this disagreement behind us and eager to build a constructive and mutually beneficial relationship with the FareChase team," said Craig Kreeger, vice president-Passenger Sales.
"Our agreement with American is based upon our common commitment to improving distribution efficiency. We are pleased that American has chosen to license our 'MarketView' software as part of that effort," said Trey Urbahn, FareChase CEO.
"We are especially pleased that American also is implementing our Web Automation technology as a component of its innovative EveryFare distribution strategy," added Urbahn.
About American Airlines
American Airlines is the world's largest carrier. American, American Eagle and the AmericanConnection regional carriers serve nearly 275 cities in 50 countries and territories with approximately 4,300 daily flights. The combined network fleet numbers more than 1,100 aircraft. American's award- winning Web site, AA.com, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld Alliance.
About FareChase, Inc.
FareChase, Inc. is the leading provider of search engine technology for the travel enterprise. Established in 2000, the management team consists of Lior Delgo, President and co-founder; Trey Urbahn, Chief Executive Officer, and Ofer Shaked, CTO and co-founder. The Chairman of the Board is Motti Kirschenbaum, developer of the High Tech Center, Ben Gurion Airport, Israel. Other Board members: Bill Burgess, Managing Director, DB Capital/Deutsche Bank; Hanan Gilutz, co-founder of Orbotech, Ltd., Alex Wilmerding, Principal, Boston Capital Ventures. Please visit http://www.farechase.com/ for a travel enterprise demonstration.
CONTACT: Corporate Communications of American Airlines, +1-817-967-1577, or firstname.lastname@example.org ; or Jeff Hodes of FareChase, Inc., +1-646-452-0660, or email@example.com
Web site: http://www.farechase.com/ http://www.amrcorp.com/
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|Date:||Jun 13, 2003|
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