The owner of the Avis car rental business today emerged as the front-runner in the race to land online travel company ebookers.

Online travel business ebookers today said 360 job cuts had helped it to slash third-quarter losses by 39% to £1.9m (€2.7m).

The owner of online travel business Expedia today quashed speculation that it was about to make a move for UK-based rival ebookers.

Bosses of online travel agency ebookers revealed today that they are in talks to sell the company.