The online-travel agency said on Monday its quarterly loss shrank to $32 million from $116 million.

"Yes, they trimmed their losses, but they are still deep in the red and servicing a ton of debt," said Ben Holmes, publisher of

Orbitz was spun off from Travelport, which is partly owned by private equity firm Blackstone Group. The company's shares debuted on the New York Stock Exchange on July 20 and have fallen about 19 percent.

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See also "Orbitz Worldwide, Inc. reports second quarter results"