Asiana Corporation (Asiana) (ASIC) Unveils New Initiative For Online Train Ticket Sales in China
17 Marzo 2008 - 9:06AM
PR Newswire (US)
NANCHANG, Jiangxi Province, PRC, March 17 /PRNewswire-FirstCall/ --
Asiana Corporation (Asiana) is pleased to announce that it plans to
launch an online train ticket e-commerce portal for train travel in
Jiangxi Province. Its initial target is to run a pilot program with
the Nanchang Train Authority, which has previously expressed
interest in the concept. Train Travel is the dominant mode of
travel in China. Asiana CEO Robert Xu explains; "If we achieve a
conservative 5% penetration, we're looking at top line revenues
from this program of nearly $750,000 USD. That is simply from the
City of Nanchang, before we start rolling out the program to other
cities and train authorities, who generally have the same issues
regarding wait times for tickets". "The Chinese passenger train
network is stretched beyond capacity, and passengers often spend
between 6 - 8 hours, and sometimes up to 2-3 days at the train
station waiting to purchase tickets". Xu added; "Our goal is to
build on a model similar to 'Ticket master' and create a simple
transaction processing process that provides tremendous convenience
versus current purchase processes. We will be able to launch this
program within a week of signing contracts with travel partners".
About Asiana Corporation Asiana is a publicly traded Company on the
Pink Sheets. It is in the process of developing a closed loop
payment system for the Chinese market. Closed loop payments involve
debit cards and/or online payment services backed by a member bank
together with a participating merchant in order for the end user to
use the system. In the short term, the company is focusing on
applying its technology on basic 'meat and potatoes' e-commerce
applications that can easily be built as a front end to the
existing electronic funds processing capabilities that the Company
already has in place. Safe Harbour Statement Information in this
press release may contain 'forward-looking statements.' Statements
describing objectives or goals or the Company's future plans are
also forward-looking statements and are subject to risks and
uncertainties, including the financial performance of the Company
and market valuations of its stock, which could cause actual
results to differ materially from those anticipated.
Forward-looking statements in this news release are made pursuant
to the 'Safe Harbour' provisions of the United States Private
Securities Litigation Reform Act of 1995. Investors are cautioned
that such forward-looking statements involve risks and
uncertainties, including, without limitation, risks relating to the
ability to close transactions being contemplated, risks related to
sales, acceptance of Asiana Corporation products, increased levels
of competition, technological changes, dependence on intellectual
property rights and other risks detailed from time to time in
Asiana Corporation's periodic reports filed with the regulatory
authorities. DATASOURCE: ASIANA Corporation CONTACT: Asiana
Corporation, http://www.asianacorporation.com/, Investor Relations:
Mina Mar Group: 1-800-365-4331
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