Ultitek Ltd. (UITK.OB) is a provider of mission-critical transaction processing and information technology services. The company is US based and provides these services to the global airline and travel industry. Through its wholly owned Russian subsidiary, Transport Automation Information Systems (TAIS), Ultitek provides Computerized Reservations Systems (CRS), Global Distribution Systems (GDS), Departure Control System (DCS) and Airlines Operations Systems (AOS). The Company also offers consulting and maintenance services to airports as well as provides reservation systems for theaters, circus performances, concerts and other events.
Ultitek operates the world’s second largest CRS business. The Company’s flagship Sirena-2.3 system is a leading reservation system in the Russian aviation market and currently supports over 30 computer reservation centers, 62 airlines and 5,000 travel agents. In 2006, approximately seven million passengers traveling on 70 different airlines made reservations through UITK’s system. The company’s computerized reservation system gives airlines the ability to manage seat inventory with real-time information.
The average airline spends approximately $5 million annually for data processing. UITK can license its CRS tool to carriers at a lower cost since the Company has already absorbed its major software development costs. Ultitek is able to pass these cost savings to its airline customers with CRS savings averaging 25% per year. In addition to cost savings, the Company gives its customers flexibility since they are not forced to rely on CRS systems owned by larger carriers. The ability to maintain control over passenger information adds value for smaller carriers.
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