REDWOOD SHORES, Calif., December 11, 2006 – cFares Inc., the first online travel site to offer travelers access to discounted consolidator airfares, today announced the appointment of Ramesh Punwani to its board of directors. The highly regarded industry veteran brings more than 30 years experience to cFares and will join existing board members Bill Reichert, Garage Technology Ventures; Naren Nath, the company's president; and Vajid Jafri, the company's chairman and CEO.
"cFares brings a next-generation vision and value proposition that will benefit both consumers and the airline industry," said Punwani. "The company's management team and business model bring unique insights and overdue changes to information transparency, pricing structures and technology enhancements to today's $100 billion industry. cFares' technologies enhance transparency and information access for consumers, resulting in an improved traveler experience as well as travel savings."
Currently Chief Financial Officer for the Federal Aviation Administration, Punwani oversees a $14 billion operating budget and is managing the transformation of its financial management processes and systems. He brings more than 30 years of aviation and travel experience to cFares. Previously, Punwani served as senior vice president for global strategy at Cendant Corp., and prior to that as executive vice president and CFO of Travelocity.com. While there, he was instrumental in growing Travelocity into the largest public e-travel company, with more than $3 billion in revenues. Punwani has also served as CFO of Pan American World Airways, Trans World Airlines (TWA) and Tower Air.
"Ramesh has an extraordinary track record in the travel and airline industry," said Vajid Jafri. "We are honored and privileged to have someone with his credentials, operational expertise and industry know-how as part of our team."
About cFares Inc.
cFares is the first travel service offering exclusive worldwide discounted fares to its members. The company's relationships with the world's top airlines and ticket consolidators allows cFares to search for and deliver fares not typically available on other online travel sites. As a result, cFares consistently delivers better fares than the traditional online sites, and frequently saves travelers hundreds, and even thousands, of dollars. The company's proprietary persistent search and dynamic pricing technologies enable cFares to offer unique value-added services that benefit both travelers and airlines. For more information about cFares, visit www.cfares.com.