Cheapflights Ltd has won the Innovative Company of the Year 2005 at the London Business Awards. This award, sponsored by the Royal Bank of Scotland, is given to a company that has dramatically changed the way it does things or that has made an innovative breakthrough in its industry sector.

Cheapflights pioneered Internet search for flight deals in 1996 – the first in the UK and four years before the first US online travel price search company. Profitable since its launch, Cheapflights was also the first UK dotcom to introduce pay-per-click as its business model in mid-2000. This innovation enabled the company to accelerate its growth into becoming one of the UK's most successful and long-lived dotcoms.

"We are naturally delighted to receive this important award celebrating the dynamism and innovation to be found today amongst London's businesses and business people. While we have London roots, we are now also an international company committed to helping maintain London's importance as a commercial hub and contributing in our own small way to the continued economic success of the Capital,” said CEO David Soskin.
 
The London Business Awards are owned and organized by the London Chamber of Commerce and industry and sponsored by The Evening Standard and by ITV, London. This year's award night was held at The Park Lane Hotel in London's West End.