Online travel giant Orbitz Worldwide Inc. reported a fourth quarter net loss of $46.5 million compared with a loss of $78 million in the fourth quarter of 2010. For the full year, Orbitz reported a loss of $37.2 million, compared with a loss of $58.2 million for 2010. Orbitz’s results contrast with those of Expedia, which reported a lower fourth quarter profit of $70.1 million.

Orbitz’s gross bookings for the fourth quarter totaled $2.5 billion, compared with $2.55 billion for the year ago earlier period. For the year, gross bookings were at. $11.34 billion, compared with $11.37 billion in 2010. EBITA for the quarter a loss of $22.2 million, compared to a loss of $51.2 million in the same quarter in 2010. EBITA for the year, however, was $65.8 million, up 8 percent for the $61.1 million reported in 2010.

“2011 was an investment year for Orbitz Worldwide, and we are pleased to be announcing today the completion of our multi-year global platform migration,” said Barney Harford, Orbitz's CEO. “While the first half of 2011 was challenging from a performance perspective, we continue to be pleased with the second half improvements in the trajectory of our U.S. leisure brands that have continued into the first quarter of this year.”

According to Orbitz, standalone air net revenue was $59.3 million in the fourth quarter 2011, down 11 percent year over year. Orbitz said the decline was driven in part by a one-time benefit recorded to air revenue in the fourth quarter 2010 to reduce an unfavorable contract liability. Air revenues also were impacted apparently American Airlines’ decision last year to pull its fares from Orbitz’s website.

Unlike other major online travel websites, Orbitz is still deriving a large percentage of income from selling air instead of hotels and other travel products. Hotel net revenue represented 36.3 percent of the company's total net revenue for the year ended December 31, 2011, up from 35.6 percent for 2010. Standalone hotel net revenue was $50.1 million in the fourth quarter 2011, down 3 percent year over year.

One the other hand, vacation package net revenue increased 11 percent in the quarter to $29 million driven by Orbitz’s ebookers, where it increased due primarily to higher volume as a result of the company's strategic focus on vacation packages, particularly on promoting beach destinations. Advertising and media revenue increased 12 percent year over year in the fourth quarter to $14 million due primarily to higher display revenue. Other net revenue, comprised primarily of car rental, cruise, destination services, travel insurance and airline hosting revenue, declined 2 percent year over year.