Cleartrip acquires Saudi travel aggregator Flyin in cash-and-stock deal – Business Standard

The Middle East market is really on fire and the ticket sizes and the frequency of travel are all great,” said Stuart Crighton, Founder and CEO of Mumbai-headquartered Cleartrip claims that with the acquisition of Flyin, it will have a market share of 60 per cent in the travel market in Profitability too will be better due to better unit economics and larger scale of operation in the region where it has had a presence for almost five years. For the next 12 months, Cleartrip will look to integrate Flyin’s services with its own while also introducing some of its own services such as local experiences to its customers in It said that the acquisition of could be seen as a stepping stone for Cleartrip to look at an inorganic mode of growth in newer markets. Despite this, the company says it is operating at a close to break-even level and is well capitalised to operate for at least the next 24 months. While and North African markets make sense for Cleartrip, it says the competition in neighbouring Southeast Asia is again similar to India making it a money pit. While remaining mum on Cleartrip’s funding strategy, Crighton did say that the company will look at knocking on investors’ doors similar to how it did for acquiring Flyin, as and when it comes across potential acquisition targets.

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