In a surprise announcement, company has announced exit from it’s main business – the airport lounge access.
That’s the business the Company was built upon, was known for and had got most of it’s fan following. (check my Company notes for details)
There were speculations that this would eventually happen as the largest airport operator in India has set up it’s own lounge access vertical.
Guess the Company was not left with much choice.
It’s trying to offer other services to the banks that it still has tie-ups with.
However, thats unpredictable and may take time to settle. Till then, there is not much for investors to get excited about.