Airlines Climb On AA Deal With ITA
MarketNews 01.13.11, 06:10 PM EST
American Airlines parent agrees to list fares through system being acquired by Google.
AMR Corporation01/13/2011 4:00PM ET$8.56$0.121.42%
AMR's agreed on Thursday to use ITA software, which recently agreed to be purchased by Google, to more efficiently list and market fares. The new system customizes offers to travelers, allowing them to choose priority seating, seats with more legroom or whatever else they prefer all for an additional price. American believes the new technology will generate more revenue.
Shares of AMR ( AMR - news - people ) rose 0.6% to $8.49, and other airlines followed.
In related news, the U.S. Justice Department is preparing an antitrust lawsuit to halt Google's $700 million acquisition of ITA. Adversaries believe if the deal were completed, Google ( GOOG - news - people ) would unfairly dominate online flight search.
Shares of Google traded down by 0.2% to $615.48.