NEW YORK, June 13 (Reuters) - Online travel agency Orbitz Worldwide Inc OWW.N, seeking to gain market share from Expedia Inc (EXPE.O) and Priceline.com Inc (PCLN.O), says it will reimburse customers who buy airline tickets if the price of those seats fall.
Orbitz will track prices from the time a ticket is purchased until the day of the flight and will issue cash refunds of between $5 and $250 per traveller for any difference, according to its website.
Orbitz, which became a publicly traded company last year, posted a quarterly net loss of $15 million in its most recent financial quarter as domestic bookings declined.
The company was spun off from Travelport in July.
The Wall Street Journal, which reported details of the plan on Friday, said Orbitz’s competitors are considering comparable offerings.
Expedia said it had done internal research on launching a similar service, but would create a program to reach more fliers. Priceline said it was also mulling offering a similar service.
“If Orbitz is a success, I would expect others, including us, to potentially follow up,” it quoted Jeff Boyd, Priceline president and CEO, as saying.
Both Expedia and Priceline posted profits in the first quarter, helped by strong bookings. (Reporting by Christopher Kaufman; Editing by David Holmes)