Abacus Clinches Farex Deal With China's Travelsky

Dated: 15 October 2001

Abacus International, Asia-Pacific's Number One Global Distribution System, will license its proprietary fares management system, FareX, to TravelSky Technology Ltd, the leading provider of information technology solutions for China's air travel and tourism industry.

In the agreement, FareX will provide the foundation for Chinese airlines served by TravelSky to offer a more complex airfares regime. This Chinese version of FareX will be used by TravelSky to distribute both published and nett fares in China. This will result in more flexible market pricing based on market demand.

Besides technical training, Farex will also do some customisation for TravelSky. Work has already started and a team of FareX and TravelSky executives is being formed to handle the project.

The new FareX system for TravelSky will be ready for testing by the end of next month, November. The system is expected to be implemented by early 2002.

Abacus is well qualified to provide a solution that quickly addresses TravelSky's unique requirements for China's large market. FareX is Abacus' innovative online nett fares management system. More than just a fares database, FareX also validates nett fares with fare rules for the travel itinerary stipulated by the travel agent. Airlines guarantee nett fares when ticketed by travel agents through FareX.

Today nine airlines - British Airways, China Airlines, Cathay Pacific, EVA Airways, Garuda Airlines, Philippine Airlines, Royal Brunei Airlines and Singapore Airlines - participate in FareX to manage, distribute and update "live" nett fares to hundreds of travel agencies in six major Abacus markets, including Hong Kong, Singapore and Taiwan.

Abacus President & CEO Don Birch inked the agreement with Xiao Yin Hong, Vice President of TravelSky, and Yang Long, President of China Aviation Supply Import/Export Company, on 25 September 2001.

"This milestone agreement with TravelSky merely enhances Abacus' long and fruitful relationship with China's aviation leaders," Mr Birch said. "Together with TravelSky, we can value add and help implement more sophisticated reservations and distribution functions in this very important market."

Besides the FareX deal, Abacus and its technology partner, Sabre, also signed a strategic technology accord with TravelSky earlier this year in March.