ON-LINE travel agency Travelocity has admitted having an accumulated debt of about $70m.
The figure was revealed in documents filed with US authorities to support the company’s merger with another on-line travel agency, Preview Travel.
Travelocity’s annual deficits were $13m in 1996; $18.7m in 1997; $21.3m in 1998 and $15.1m for the first nine months of 1999. Travelocity and Preview Travel say their combined gross bookings for 1999 were worth $1.19bn. The merger is set for the end of this month.