NEW YORK (TheStreet) -- American Airlines, the main unit of AMR Corp. (AMR) , said after Tuesday's close that it's discontinued offering access to its flights and fares through Orbitz Worldwide's (OWW) namesake travel reservations Web site.
"While we could not reach an agreement with Orbitz, we are committed to letting customers know of the multitude of options they have to purchase travel on American Airlines," said Derek DeCross, a vice president, sales with American Airlines, in a statement. "In today's competitive marketplace, it is important for American to be free to customize its product offerings to improve the customer experience as well as distribute its products in a way that does not result in unnecessary costs."
American Airlines said tickets already purchased through Orbitz are valid and listed a number of other ways for consumers to purchase tickets for its flights, including its own AA.com Web site, its reservation agents, travel agencies, and other online venues such as Priceline.com (PCLN) and Kayak.com.
(PCLN) The move comes after the Circuit Court of Cook County in Illinois denied a preliminary injunction filed by Travelport LP, which owns 48% of Orbitz, requesting a temporary restraining order to prevent American Airlines from terminating its deal with Orbitz. Travelport LP is owned by a consortium of private equity firms including The Blackstone Group (BX) , One Equity Partners and Technology Crossover Ventures.
Shares of AMR closed Tuesday at $8.05, up 1.8%, while Orbitz's stock finished the session at $6.44, up 3.5%. In its Form 8-K disclosing the court ruling, Orbitz said net revenue from AA tickets represented 5% of its total revenue of $575.1 million for the nine months ended Sept. 30, and that it will continue to seek an arrangement with American Airlines.
—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.