The Adani Group on Friday announced it would acquire a significant minority stake in Cleartrip, an online travel aggregator (OTA) and part of the Flipkart Group.
The amount of investment is not disclosed. As part of the investment, Cleartrip will also serve as the Adani Group’s OTA partner. The deal is expected to close in November, subject to customary closing conditions.
Since the acquisition by the Flipkart Group, Cleartrip has seen 10x growth in flight bookings, it said in a statement. The Adani Group is India’s largest private-sector airport operator catering to 25 per cent of the passenger traffic. Trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-Covid highs, it said.
The investment will further enhance the strategic partnership between the Adani Group and the Flipkart Group, as both parties work towards serving Indian consumers with a wide gamut of digital offerings.
Gautam Adani, chairman of the Adani Group, said: “It is such strategic partnerships among home-grown 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.”
By collaborating with the Adani Group, Cleartrip aims to provide consumers with a seamless travel experience and further accelerate its growth.
Kalyan Krishnamurthy, chief executive officer of Flipkart Group, said: “As travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers.”
Source: Business-Standard