TRAVEL reservation software group CNG has signed a five-year extension to its deal with Sabre Travel Network.

ONLINE reservations firm CNG Travel booked a loss of €7.22 million in the first six months of the year.

CNG, a Kerry-based online travel group, has reported pre-tax losses of $8.9m (€7.2m) for the first half of this year.

Hotel reservation company CNG Travel said its American travel agent subsidiary Tzell was ranked fifth largest in a major survey of American corporate travel management companies.

KENMARE-BASED CNG Travel Group yesterday signed a strategic partnership with Japanese conglomerate Sojitz and reported losses of $2.6m for 2003.

The Irish online hotel reservation company CNG floated on London's Alternative Investment Market this morning. It hopes to raise over €30m.

CNG Travel, the Irish-based hotel room distribution firm, are to float on the AIM market on the London Stock exchange.

CNG TRAVEL, the Kenmare-based online hotel booking company, is expected to be valued at $120-$140 million when it floats on London's Alternative Investment Market (AIM) next month.