On Friday, Adani Group said it is choosing a minority stake in Cleartrip, an online travel aggregator (OTA) owned and operated by major e-commerce company Flipkart. Financial details of the deal were not disclosed.
The investment will strengthen the strategic partnership between Adani Group and Flipkart Group, as both parties serve Indian consumers with a wide range of digital offerings. As part of the investment, Cleartrip will also act as an OTA partner for the Adani Group.
By collaborating with Adani Group in areas such as travel related products, loyalty programs and other value-added services, Cleartrip aims to provide consumers with a seamless travel experience and further accelerate their growth.
Flipkart acquired a 100% stake in travel aggregator Cleartrip just a few months ago in April. Since the acquisition by Flipkart, Cleartrip claims to have seen a 10-fold growth in flight bookings.
In addition, trends observed by Adeni Airports indicate that the number of passengers at the airports has increased, approaching pre-Covid levels. This partnership will enable Cleartrip to transcend digital boundaries and provide comprehensive online travel services.
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centers, fulfillment centers and now air travel,” Gautam Adani, Chairman of the Adani Group, said in a statement.
“It is such strategic partnerships between local businesses that will ultimately create local business opportunities as well as the Atmanirbhar Bharat. The Cleartrip platform will become an essential part of the broader SuperApp journey we have started.”
Speaking about the development, Kalyan Krishnamurthy, CEO of Flipkart Group, said that as travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers.
Krishnamurthy added, “We are striving to strengthen our relationship with Adani Group and will explore avenues in which we can expand our offering to consumers, leveraging the strong travel infrastructure in the country.”
The transaction is expected to close in November 2021, subject to usual closing terms.