Adani Group buys minority stake in online travel aggregator Cleartrip4Photo© financialexpress.com

Adani Group buys minority stake in online travel aggregator Cleartrip

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New Delhi, Oct 29: Billionaire Gautam Adani’s ports-to-airports conglomerate on Friday announced the investment of an undisclosed amount in Cleartrip Pvt Ltd for a minority stake with a view to providing consumers seamless travel experience through a wide range of products and service offerings.

In a statement, the Adani Group said “it is investing in Cleartrip Private Limited, an online travel aggregator (OTA) and part of the Flipkart Group, India’s homegrown consumer internet ecosystem." “As part of this investment, the Adani Group will acquire a significant minority stake in Cleartrip," it said, without giving details.

Through this investment, the Adani Group and the Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence. “Since the acquisition by the Flipkart Group, Cleartrip has seen 10x growth in flight bookings. Also, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-Covid highs. “This partnership will further enable Cleartrip to transcend digital boundaries and bring end-to-end travel services online," it said.