Virgin Blue has reached a financial settlement with its IT service provider Navitaire, following the devastating computer system failure the airline endured in September, which left thousands of passengers delayed or stranded and battered the airline’s reputation.

In a terse statement issued to the Australian Stock Exchange, Virgin Blue noted that a “mutually satisfactory agreement regarding the reservation system outages which occurred in 2010” had been reached. Terms of the deal were not disclosed although there has been speculation that Navitaire paid the airline as much as A$20 million.

Source: IT Wire

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