Re: | Orbitz Worldwide, Inc. |
1. | We note that customers can rent cars at the Damascus International Airport, Syria, on your website. In addition, in your letter to us dated October 10, 2008, you stated that a number of hotels located in Iran and Syria were available for booking on your websites. Iran and Syria are identified by the U.S. Department of State as state sponsors of terrorism, and are subject to U.S. economic sanctions and export controls. Please describe to us the nature and extent of your past, current, and anticipated contacts with Iran and Syria, whether through direct or indirect arrangements, since your referenced letter to us. Your response should describe any products or services you have provided into Iran and Syria, or to people visiting those countries, and any agreements, arrangements or other contacts you have had with the governments of those countries or entities those governments control. |
2. | Please discuss the materiality of any contacts with Iran, and Syria described in response to the foregoing comment, and whether those contacts would constitute a material investment risk for your security holders. You should address materiality in quantitative terms, including the approximate dollar amounts of any revenues, assets, and liabilities associated with Iran and Syria for the last three fiscal years and any subsequent interim period. Also, address materiality in terms of qualitative factors that a reasonable investor would deem important |
Dollars In thousands | ||||||||||||||||||||
Gross bookings | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||
Hotel | $ | — | $ | 0.1 | $ | — | $ | — | ||||||||||||
Air | $ | 900.1 | $ | 1,089.8 | $ | 403.0 | $ | — | ||||||||||||
Car | $ | 2.4 | $ | — | $ | — | $ | — | ||||||||||||
Total gross bookings | $ | 902.5 | $ | 1,089.9 | $ | 403.0 | $ | — | ||||||||||||
Total OWW gross bookings | $ | 9,942,444 | $ | 11,370,177 | $ | 11,340,518 | $ | — | ||||||||||||
% in Iran and Syria | 0.009 | % | 0.010 | % | 0.004 | % | — | % | ||||||||||||
Net Revenue | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||
Hotel | $ | — | $ | 0.02 | $ | — | $ | — | ||||||||||||
Air | $ | 47 | $ | 43 | $ | 15 | $ | — | ||||||||||||
Car | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Total net revenue | $ | 47 | $ | 43 | $ | 15 | $ | — | ||||||||||||
Total OWW Net Revenue | $ | 737,648 | $ | 757,487 | $ | 766,819 | $ | — | ||||||||||||
% in Iran and Syria | 0.006 | % | 0.006 | % | 0.002 | % | — | % |
• | The Company is responsible for the adequacy and accuracy of the disclosure in the filings; |
• | Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filings; and |
• | The Company may not assert staff comments as a defense in any proceeding. |
/s/ Alice L. Geene |
Alice L. Geene GVP and Interim General Counsel |
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