Fintech
Travel Tech
Electric Vehicle
Health Tech
Edtech
IT
Logistics
Retail
Ecommerce
Startup Ecosystem
Enterprise Tech
Clean Tech
Consumer Internet
Agritech
With disclosing the financial contours, EaseMyTrip said that the deal will be subject to final nod from the company’s board and shareholders
EaseMyTrip’s board also approved infusion of 50,000 Saudi Riyals towards the share capital of its Saudi Arabia-based subsidiary
EaseMyTrip’s PAT slumped 26% YoY to INR 34.02 Cr in Q3 FY25, while revenue declined 6% YoY to INR 150.56 Cr
Online travel aggregator (OTA) Easemytrip
plans to foray into the charter aviation sector with the acquisition of a 49% stake in Big Charter Pvt Ltd.
In an exchange filing, EaseMyTrip said it has received in-principle approval from its board for the stake acquisition in the charter aviation company. The deal will be subject to final nod from the company’s board and shareholders.
However, the OTA did not disclose the size of the transaction.
In a statement, EaseMyTrip said that the acquisition will enable it to offer personalised and premium air travel options to high-end customers. The OTA also said that the move is in line with its border strategy of expanding presence in Tier II and Tier III cities, where Big Charter has a healthy presence.
The deal will also enable EaseMyTrip to capitalise on the high-margin space, create an alternate source of revenues and “strengthen” its position as a “comprehensive travel provider”.
Big Charter generated a revenue of INR 128.75 Cr in the fiscal year 2023-24 (FY24).
EaseMyTrip’s International Expansion Spree: The company’s board also approved a number of other decisions pertaining to its international expansion in its meeting.
- The board approved an infusion of 50,000 Saudi Riyals (INR 11.41 Lakh) towards the share capital of its Saudi Arabia-based subsidiary, Easy Trip Planners Limited.
- The board also approved an infusion of $10,000 (INR 8.56 Lakh) towards its US-based subsidiary EaseMyTrip USA Inc and an additional 1,000 Brazilian Real (INR 14,881) into its Brazil-based subsidiary Easy Trip Planners Do Brasil Ltda.
- The company also said that its UAE-based wholly owned subsidiaryEaseMyTrip MiddleEast DMCC has incorporated two wholly owned limited liability companies (LLCs) – Ease My Trip Tours LLC and Ease My Trip Holiday Homes LLC. Both entities have been incorporated in Dubai.
EaseMyTrip’s New Business Forays: Founded in 2008 by Nishant Pitti, Rikant Pitti and Prashant Pitti, EaseMyTrip began its journey as an online travel agency but has since grown into a comprehensive travel tech platform. It offers services such as air ticket, hotel and holiday package booking. The company has also forayed into spaces such as insurtech and electric bus manufacturing.
It is also building a five star hotel in Ayodhya in partnership with the Jeewani Group.
The company has been on an acquisition spree to expand its footprint and diversify its product offerings. In November last year, it announced the acquisition of a 49% stake in Australia-based study abroad consultant services provider Planet Education Australia in an equity share swap pegged at INR 39.20 Cr.
The OTA also acquired a 30% stake in wellness brand The Wellness Co for INR 60 Cr in September 2024. In the same month, EaseMyTrip purchased certain shares of Pflege Home Healthcare Center for INR 20 Cr and subscribed to new shares for an aggregate subscription of INR 10 Cr on an equity share swap basis.
On the financial front, the travel tech company saw its consolidated profit after tax (PAT) crash 26% to INR 34.02 Cr in Q3 FY25 from INR 45.68 Cr in the year-ago quarter. Operating revenue also declined 6% to INR 150.56 Cr in the December quarter from INR 160.78 Cr in Q3 FY24.
Shares of EaseMyTrip ended yesterday’s trading session 1.11% lower at INR 13.40 on the BSE.
