The Company is acquiring 49% stake into Big Charter Pvt Ltd; a prominent player in India’s charter aviation sector.
- The Indian charter aviation industry, currently valued at approximately USD 650.5 mn, is projected to grow to USD 1.14 bn by 2033
- In FY 2023-24, Big Charter generated revenues of Rs 128.75 cr (approx USD 15.5 mn)
No further details have been provided.
Additionally, the company has approved starting nominal investments into its international subsidiaries.
- 1,000 Brazilian real (Rs 15k) into Easy Trip Planners Do Brasil Ltd;
- 50,000 riyals (Rs 7.5 lakh) into its Saudi Arabian subsidiary
- $10,000 (Rs 8.5 lakh) into EaseMyTrip USA Inc.
- The company also stated that its wholly-owned subsidiary, EaseMyTrip MiddleEast DMCC has established two new entities in Dubai. The two companies are named as Ease My Trip Tours L.L.C and Ease My Trip Holiday Homes LLC. The company is planning to expand its travel and tourism services in the region.
The above investments at this stage are nominal but indicate an intention by the Company to expand into these regions.
Too much international expansion by Company of this size should be looked at with caution.