TRAVEL AGGREGATORS
Regional airports found wind beneath their wings in FY24
India's hinterland air travel surged last year, driven by civil aviation ministry data and government schemes. Airports like Diu, Pantnagar, Tezpur, and Prayagraj saw significant growth, boosted by the Udan scheme and low fares. IndiGo and other airlines expanded services, with CFO Gaurav Negi highlighting the importance of regional routes for broader networks.
Ixigo’s Q4 net profit jumps 55%, triples for full year
Revenue at the online travel booking platform grew at a relatively slower pace in the fourth quarter, given the slowdown in air travel and reserved train ticketing segments.
Techie takes revenge: Launches website to expose airlines after girlfriend's lost luggage
Pieter Levels, frustrated by his girlfriend's lost luggage incident with Vueling Airlines, launched luggagelosers.com. This innovative website ranks airlines based on their rates of lost baggage using real-time data sourced from social media. The initiative aims to empower travelers with information while advocating for improved baggage handling standards across the airline industry.
Heat, humidity or hale: 'majboori' makes gig workers brave the elements
The weather extremities this summer can, of course, impact any and all. But for those whose daily bread depends on their job, there aren't many options. While companies like Swiggy, Zomato and others made some efforts to relieve their delivery partners of the heat to some extent by offering them refreshments, and resting areas according to the gig workers they weren't very helpful.
Expect improvement in occupancy vis-a-vis the previous year from Q2: Patanjali G Keswani, Lemon Tree Hotels
While you can say that in spite of heat it was decent performance, I am looking at trend lines and I expect the catch up will happen really from Q2 when there will be improvements vis-a-vis the previous year in occupancy.
Paytm ties up with Skyscanner, Google Flights, Wego
Paytm co posted 19% y-o-y rise in total flight bookings in March quarter. International flight bookings on the platform rose 15% y-o-y in April. Recently the fintech firm also partnered with Samsung to offer flight, movies and event ticket booking through Samsung wallet. According to a company spokesperson, Paytm aim to deliver exceptional value and best travel experience to its customers.
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ETtech Q&A | We pivoted multiple times, have been close to bankruptcy: Ixigo founders
Le Travenues Technology, the company behind the travel platform Ixigo, saw its shares listed on stock exchanges at a 48.5% premium to the IPO price. Cofounders Aloke Bajpai and Rajnish Kumar discussed the successful IPO and investor response with ET.
Ixigo IPO: A look at the online travel aggregator’s listed rivals
The travel industry, which had taken a beating during the Covid-19 period, witnessed a smart recovery post-pandemic, with some players registering more than double-digit growth in FY23 compared to FY20.
Online travel aggregator Ixigo sets Rs 88-93 price band for IPO to raise Rs 740 crore
The company filed its draft red herring prospectus (DRHP) with the markets regulator in February and received approval in May. Ixigo IPO is scheduled to launch on June 10 and close on June 12. The company aims to raise a total of Rs 740 crore through the public issue.
Bengaluru airport suspends controversial vehicle entry fee after protests
BIAL suspends entry fee for arrival pick-up lanes at Kempegowda International Airport after protests. Charges for vehicles based on registration plates was criticized. Speed trap cameras have been installed on Kempegowda International Airport Road to curb road traffic accidents
Top travel credit cards with most value-back: Airport lounge access, discounts on airfare, business class vouchers, rewards
Top travel credit cards: Here are some of the top banks' travel credit cards providing significant value-back on travel spends. Some of these cards are co-branded with popular travel portals or airlines while others offer general travel benefits.
More Indians are travelling than ever before: Mastercard Economics Institute on travel in 2024
In 2024, more Indians are traveling internationally than ever before, driven by a growing middle class and expanded route capacity, according to the Mastercard Economics Institute's report. Domestic air travel surged 21% above 2019 levels, while international travel rose by 4%. Top destinations for Indian travelers this summer include Amsterdam, Singapore, London, Frankfurt, and Melbourne. The report highlights a shift in Indian travel habits towards exploration and discovery, with increased visits to Japan, Vietnam, and the United States.
TBO Tek IPO booked nearly 25x on Day 3. Check subscription, GMP, and other details
TBO Tek IPO comprises a fresh equity issue worth up to Rs 400 crore and has an offer for sale (OFS) component of up to 1.25 crore shares by existing investors. The company's shares are trading with a premium of Rs 550 in the grey market.
TBO Tek IPO sails through on Day 2. Check subscription, GMP, and other details
TBO Tek IPO GMP: TBO Tek IPO comprises a fresh equity issue worth up to Rs 400 crore and an offer for sale (OFS) of up to 1.25 crore shares by existing investors. The company's shares are trading with a premium of Rs 550 In the unlisted market.
TBO Tek IPO booked 39% so far on first day. Check subscription, GMP, and other details
TBO Tek IPO comprises a fresh equity issue worth up to Rs 400 crore and an OFS of up to 1.25 crore shares by existing investors. Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO will offload shares under the OFS.
Flying over city traffic: How exactly can you travel between Delhi and Gurugram in 7 minutes?
In a joint venture, InterGlobe Enterprises, the parent company of India's leading airline IndiGo, and US-based Archer Aviation, plan to introduce an all-electric air taxi service in India by 2026. This service will facilitate transportation from Connaught Place in New Delhi to Gurugram in Haryana, with a remarkable travel time of only 7 minutes.
Groww and Worldline ePayments secure online payment aggregator licence from RBI
The PA licence will allow Bengaluru-based Groww to process online payments by itself. The licence was issued in the name of the company's subsidiary payment business Groww Pay.
SBI Card MILES credit cards with three variants launched: 7 must-know features like annual fees, airport lounge access, rewards, miles
SBI Card MILES credit cards: SBI Card has launched three variants of its first travel-focused core credit card, ‘SBI Card MILES’ with curated travel benefits. The three variants, SBI Card MILES ELITE, SBI Card MILES PRIME, and SBI Card MILES.
Flipkart launches bus bookings on its app
Flipkart introduces bus services on its app, offering 10 lakh bus connections on 25,000+ routes in partnership with state transport corporations and private aggregators. Customers enjoy discounts and value-added services, aiming to enhance travel experiences.
Leisure is leading although individual business travel is coming back:Hyatt Hotels CEO
Hoplamazian sees a positive outlook for India's hospitality sector with strong demand drivers in domestic business travel, international tourism recovery, and a sustainable growth environment as leisure travel leads the industry. He says, the amount of money spent on domestic leisure travel versus inbound leisure travel is something like seven to one.
There is more to travel than hotels: 4 stocks from different segments of travel & tourism sector
When it comes to tourism and hospitality, the first thing which comes to mind is airlines and hotels. However if one looks at the whole industry, there are very special and niche players who are part of the whole ecosystem. Right from a digital ticket booking player who has a monopoly to airport lounge service provider which has the maximum market share, to a company which not only sells packages for travel but also has other business which are related to one or the other part of the travel. So, when the debate has settled that as a sector travel and tourism is the one which is likely to have better growth than it has seen in the past then it is probably time to bring these niche players on the watchlist.
Yatra Online appoints Gaurav Luthra as chief business officer - new business development
He will be responsible for building and further enhancing Yatra’s mid-market and SME corporate travel proposition and developing new products such as visa facilitation and car rentals for business travellers, thereby delivering financial growth for the company.
Amazon Pay secures payment aggregator licence; Krutrim AI’s chatbot
Amazon Pay has received a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s ETtech Top 5.
Easy Trip loses booking war with MakeMyTrip in key holiday quarter
India's travel industry is thriving, with demand for air, road and rail travel as well as for hotels booming fuelled by rising disposable incomes. But online travel aggregators are locked in a battle to win customers, with analysts saying that MakeMyTrip has lower charges and better service.
SoftBank-backed fintech startup Juspay acquires LotusPay in all-cash deal
The acquisition strengthens Juspay’s offerings to the BFSI segment and merchants, with a focus on enhancing its recurring payment capabilities, the company said.
Insurtech startups make hay as embedded insurance gets the spotlight
From banks that want to cross-sell insurance products to ecommerce companies offering to insure large-ticket purchases to travel aggregators offering insurance against flight delays, companies are roping in insurance technology startups such as Zopper, Riskcovry, and OneAssure to power such sales.
Flight delayed, cancelled due to fog? You can get up to Rs 2 lakh if you have a travel insurance
Flight delayed or cancelled? Hundreds of flights have been delayed from the Indira Gandhi International Airport in Delhi due to low visibility amid dense fog in the last few days. You need to keep in mind that airlines are not obliged to compensate in cases where the cancellation and delay is caused by a force majeure event. Well, if you have bought travel insurance while booking your flight ticket, it may help you if your flight is delayed or cancelled. Here's how
Delhiites will soon be able to 'book' a bus as govt notifies premium aggregator scheme
The scheme calls for a modal shift in public transportation for intra-city bus journeys. The buses that will come to be a part of the initiative will have exceptional quality, comfort, and reliability, and will lead to a reduction in congestion and air pollution, the government said.
Inside Dream Sports diversification strategy; Delhi taxi ban’s impact on cab aggregators
Dream Sports, the largest real-money gaming company in India, is charting its diversification strategy and will now turn to more strategic bets and cease its VC-style bets. Dream Sports has been charting its diversification strategy for a few years now. This and more in today’s ETtech Morning Dispatch.
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