Adani Group to acquire minority stake in Cleartrip

By: |
October 30, 2021 3:15 AM

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.

In addition, 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.In addition, 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.

Adani Group, on Friday, said that it is picking a minority stake in Cleartrip, an online travel aggregator (OTA) owned and operated by e-commerce major Flipkart. The financial details of the deal were not disclosed.

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. As a part of the investment, Cleartrip will also serve as the Adani Group’s OTA partner.

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.

Flipkart had acquired a 100% stake in the travel aggregator Cleartrip just a few months ago in April. Since the acquisition by Flipkart, Cleartrip claims to have seen 10x growth in flight bookings.

In addition, 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.

“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centres, fulfillment centres and now air travel,” said Gautam Adani, chairman of the Adani Group in a statement.

“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,” he added.

Speaking on the development, Kalyan Krishnamurthy, chief executive officer, Flipkart Group, said that the as travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers.

“We strive to strengthen our relationship with the Adani Group and will explore ways in which we can expand our offerings for consumers, leveraging their robust travel infrastructure in the country,” added Krishnamurthy.

The deal is expected to close in November 2021, subject to customary closing conditions.

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