SPREADS HER WINGS TO THE MIDDLE EAST REGION

By Fariha Mohd Yusoff

Dubai, 26 April 2001 - airportXchange, Ltd today signed two Memorandums of Understanding with the Dubai Internet City and the Dubai Department of Civil Aviation to establish a mutually synergistic business alliance.

The first Memorandum of Understanding (MOU) between airportXchange (AX) and Dubai Internet City (DIC) will identify potential business areas whereby DIC will provide AX with its Internet and Computing Infrastructure Services to participate in airportXchange’s e-commerce initiative.

airportXchange, the developer and operator of an online open market place exchange known as airportXchange.com is a spin-off of XYBASE whose principal activity includes operating a comprehensive e-business platform for the airport community.

Among the services rendered are airport procurement services which allow airports to put up their tenders and specifications online and accept online responses to bids, a vertical infomediary portal for the airport community, a travel planner with online flight and accommodation bookings for travelers and also a loyalty program known as Majestic Wings that can be used across all airportXchange member airports.

The MOU between AX and DIC will ensure the implementing and operating of the Exchange in the Gulf region and shall also collaborate with the Dubai International Airport said Sarah Samuel, the Vice President of the Business Development for airportXchange.

The MOU signed today will also give the Dubai Internet City the opportunity for an equity participation in airportXchange with both parties agreeing to negotiate in good faith the provision of services and equity participation in airportXchange. The Dubai Internet City’s participation in the airportXchange’s e-commerce ventures will spur the growth for the ICT industry and catalyse digital markets in the Middle East.

The second MOU is between AX, in collaboration with Future Media LLC (a local partner of AX), and the operator of the Dubai International Airport, the Dubai Department of Civil Aviation (DCA). This MOU constitutes an outline of proposed actions to facilitate further discussions. To start of the alliance, airportXchange will provide services for procurement and infomediary for DCA.

This MOU will also look into the development of a viable business plan to ensure a fully integrated Internet procurement and retail system for airport procurement as well as the possibility of taking up 5% stake in AX making them as not only a user of the Exchange but as an AX partner.

airportXchange looks into reducing airport and stakeholders’ procurement costs through efficient online supply chain thus resulting in an upward growth in airport retail revenue. These revenues are from areas of new online retail innovations through transactions, subscriptions and other fees incurred on the use of airportXchange services as the business model is based on revenue share.

These two MOUs are in line with the company’s plan to proliferate the global air market and through this venture the effort is materialized for the Gulf region