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Adani Group to pick up stake in Cleartrip, firms up ties with Flipkart

After being acquired by Flipkart, Cleartrip has seen a ten-fold growth in flight bookings. The Adani deal likely to be sealed in November.

October 30, 2021 / 08:33 AM IST
Adani Group announced  that it is investing in Cleartrip Pvt Ltd, an online travel aggregator  (OTA) that is part of the Flipkart Group.

Adani Group announced that it is investing in Cleartrip Pvt Ltd, an online travel aggregator (OTA) that is part of the Flipkart Group.


Adani Group has shared that it is picking up a significant minority stake in Cleartrip Pvt Ltd, an online travel aggregator (OTA) that is part of the Flipkart Group.

Cleartrip will also serve as the Adani Group’s OTA partner. The deal is expected to close in November, subject to customary closing conditions.

"It is such strategic partnerships among homegrown companies which will eventually create local jobs as well as an Atmanirbhar Bharat. The Cleartrip platform will become an essential part of the broader SuperApp journey we have embarked upon," said Gautam Adani, Chairman, Adani Group.

After being acquired by Flipkart, Cleartrip has seen a ten-fold growth in flight bookings. The company has been able to stabilise a prominent position in the OTA space. Adani airports have also observed an increasing trend of travel going back to pre-COVID highs. This partnership between Adani Group and Flipkart will ensure Indian consumers are offered a wide gamut of services.

"By collaborating with the Adani Group in areas such as travel-related

products, loyalty programmes and other value-added services, Cleartrip aims to provide consumers with a seamless travel experience and further accelerate its growth," read the release.

Close

Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said that they will strive to strengthen their partnership with Adani Group and "explore ways in which we can expand our offerings for consumers, leveraging their robust travel infrastructure in the country".

 



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Moneycontrol News
first published: Oct 29, 2021 05:54 pm
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