Ixigo offers 3X refund on unconfirmed waitlisted train tickets, shares up 4%

Ixigo offers 3X refund on unconfirmed waitlisted train tickets, shares up 4%

Online travel aggregator ixigo on December 18 announced its latest feature "Travel Guarantee" "to provide greater convenience and peace of mind to train travellers with waitlisted tickets".

This innovative feature, available on the ixigo Trains app to begin with, ensures that passengers with unconfirmed waitlisted tickets at the time of chart preparation receive a 3X refund of their fare, providing them the "flexibility to make last-minute bookings through alternative modes of transport such as flights and buses".

"Train travel during festive and holiday seasons results in long waitlists due to peak travel demand. When tickets remain unconfirmed, travellers face added anxiety, as they are forced to explore last-minute alternatives like flights or buses, often at significantly higher prices. With the ‘Travel Guarantee’ feature travellers receive a refund of triple their ticket fare, offering added flexibility to users to rebook their journey through other modes of transport and protect them against last-minute fare hikes," said ixigo in a press release.

At 2:30 pm on December 18, ixigo shares were trading 4% higher at Rs 161.2 apiece. The market capitalisation of the stock is Rs 6,200 crore. Its 52-week low is Rs 131.6 and 52-week high is Rs 197.5.

Speaking on the new feature roll-out, Dinesh Kumar Kotha, CEO, ixigo Trains said, "At ixigo, we are dedicated to creating innovative solutions that make travel smoother and stress-free for our users. Train waitlists can often cause anxiety, especially during peak travel seasons when securing a seat becomes a challenge. This is where our ‘Travel Guarantee’ feature steps in as a safety net, by offering up to 3X the refund on unconfirmed tickets. This not only provides greater financial value but also empowers travellers to rebook their journey through alternate travel options without having to worry about last-minute fare hikes. With this initiative, we aim to make train travel more reliable, convenient, and worry-free for everyone.”

How it works:
1. Passengers can opt for the ‘Travel Guarantee’ feature at a nominal charge for selected trains and classes booked via ixigo Trains.

2. If the ticket remains waitlisted at the time of chart preparation:

* 1X of the ticket fare will be credited to the original payment mode.

* 2X will be refunded as a Travel Guarantee Coupon, redeemable on flight, train or bus bookings on ixigo.