Orbitz Worldwide, Inc. ( NYSE: OWW ), company has announced that Illinois court has given a favorable ruling against American Airlines and order to publish its fares and flight status on Orbitz Worldwide's travel sites. Stock jumped more than 50 % to $ 3.34 in the after hours trade. Stock might hold the gains and add some more gains in the next regular session today.
Our Call: Buy positions may be initiated after tracking few minutes of initial trade.
Below is the detailed news:
An Illinois Court has ordered American Airlines to publish its fares and flight schedule on , Orbitz said on Wednesday, sending the firm's shares skyrocketing more than 50 percent higher in late trading Wednesday.
Get after-hours quotes for Orbitz here. The stock, which trades on the New York Stock Exchange, lost almost 4 percent during Wednesday's regular session.
Orbitz said the ruling by the Illinois Circuit Court of Cook County grants the online travel agency injunctive relief requested by Travelport, which owns nearly half of Orbitz.
"This reinstatement of American Airlines full schedule of flights on Orbitz.com and Orbitz for Business is a win for transparency, consumer choice and for all of our mutual customers," Orbitz said in a statement.
American Airlines pulled its content from Orbitz in December after Orbitz refused to adopt American's new technology that would let consumers price their trips based on other factors besides just fares.
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