The deal gets EaseMyTrip to foray into the growing air charter services market in India and abroad
EaseMyTrip, India’s one of the largest online travel tech platforms, today announced it will invest in and acquire* Gujarat’s GIFT city-based Nutana Aviation. The acquiree* company is in the business of offering charter solutions to clients in India and abroad. Nutana Aviation leases charter aircraft enabling operators to run efficiently along with proving charter booking services to its clients, within and outside India.
With this acquisition, EaseMyTrip will add a new segment that will ‘fast-track’ its growth. The acquisition* is a strategic decision which comes in line with its continued diversification plans of developing a comprehensive travel ecosystem. Via this acquisition, the company is focused on growing inorganically and attain profits. This will ensure that the company caters and expand its footprints to the international markets. Under this transaction, EaseMyTrip will hold a majority stake in the Nutana aviation. Post investment by EaseMyTrip, Nutana Aviation will continue to run and operate as an independent entity.
Speaking on the acquisition, Mr. Nishant Pitti, CEO and Co-Founder of EaseMyTrip, said, “As an acquiring party, EaseMyTrip always tries to buy stakes in companies that have the capability to establish an exemplary operations model in the future. Nutana Aviation brings a very novel idea to realization with their services. With India’s ever-growing demand for aircraft charters in the foreseeable future, we see Nutana shaping a reliable, robust, and profitable channel. We are extremely excited to see what the future holds for Nutana Aviation as a part of the EaseMyTrip brand.”
Mr. Sanjay Mandavia, Founder of Nutana Aviation, said, ‘’It’s our great pleasure to enter into a joint venture with EaseMyTrip which is India’s one of largest travel platform. It will not only support it’s organic growth into the travel industry but also support number of opportunities related with booking charter and leasing air services immersed with technology across the globe. Our combined experience in the aviation sector would usher into a new era of aviation.’’
*subject to closing conditions
About EaseMyTrip
EaseMyTrip (a public listed company at NSE and BSE) is India’s second-largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 78% during FY20-22 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers ‘End to End’ travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zero-convenience fees during bookings. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 1 million hotels as well as train/bus tickets and taxi rentals for major cities in India. Founded in 2008, EaseMyTrip has offices across various Indian cities, including Noida, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA and New Zealand and London.
About Nutana Aviation
Nutana Aviation is an aviation asset financing and leasing company based at GIFT city, India. The leadership team comprises of management professionals with several decades of experience in financial services and aviation. The business was first envisioned in 2017 as a home-grown, local investment management platform for capital resident in the region to realize returns from financing of aviation assets to be operated in the region. With the phased creation of the enabling regulatory architecture for aviation finance in India, the business was incorporated in 2021 at GIFT International Financial Services Centre, India.
