The Adani Group, diversified conglomerate, today announced that 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.
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, according to a press release.
The investment will further enhance the strategic partnership between the Adani Group and the Flipkart Group, as both parties work with a wide gamut of digital offerings. As a part of the investment, Cleartrip will also serve as the Adani Group’s OTA partner.
Cleartrip, by collaborating with the Adani Group in areas such as travel-related products, loyalty programs and other value-added services, aims to provide consumers with a seamless travel experience and further accelerate its growth.
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centres, fulfilment centers and now air travel,” said Gautam Adani, Chairman of the Adani Group. “The Cleartrip platform will become an essential part of the broader SuperApp journey we have embarked upon.”
Kalyan Krishnamurthy, Chief Executive Officer, 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. 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.”
The deal is expected to close in November 2021, subject to customary closing conditions.