Orbitz sees profit plunge

CHICAGO - Orbitz Worldwide, parent of online travel agency Orbitz.com, said Wednesday its first-quarter net loss was $336 million, or $4.02 per share, compared with a loss of $15 million, or 18 cents per share, a year earlier.

Orbitz took a $332 million non-cash charge due to the decline in value of its assets and stock price.

Excluding that charge, Orbitz earned 1 cent per share. The total value of Orbitz's bookings was $2.28 billion, down 17 percent from a year earlier.

Domestic bookings decreased by 13 percent. International bookings decreased by 36 percent.