TRAVEL booked via online computer services will increase from less than £1m annually to over £1bn within five years, predicts a report from UK management consultancy, Datamonitor. The Internet and other new distribution channels will account for a growing proportion of travel sales - bad news for travel agencies and other intermediaries. Airlines, in particular, are enthusiastically embracing the technology as a way of slashing distribution costs - an online reservation costs only £1 compared with up to £10 for a telephone booking. All leading UK airlines now offer online bookings: British Airways (british-airways.com/), Virgin Atlantic (fly.virgin.com/), and British Midland (britishmidland.co.uk/).