Six online travel agencies trapped in price war

Tuniu, which made a loss of 10.34 million yuan in the third quarter of this year, has filed to the US Securities and Exchange Commission for a up to $100 million new share issuance plan.

Analysts said this fundraising plan is for the price war. Tuniu has prepared 12 kinds of tour packages for those planning for a vacation to grab beginning 10 am, Dec 12. The destinations are mainly in Asia, such as Jeju Island and Seoul in South Korea. Tuniu promised the prices to be "the lowest on the whole Internet". The lucky one who succeeds in 'grabbing' a four-day package tour departing from Shanghai on Jan 14, 2015, to Jeju Island only needs to spend 798 yuan. But Tuniu did not say how many people can win the "grabbing" game.

A stand of Tuniu.com at an expo held in Nanjing, capital of East China's Jiangsu province on Sept 2, 2014. [Photo by Zhen Huai/Asianewsphoto]