New Delhi: Travel agencies in India have been facing cash flow issues and hurdles in refunding money amid the ongoing lockdown that has directly impacted the aviation and broader tourism sector. Annual targets set by travel agencies such as EaseMyTrip, MakeMyTrip and other smaller firms have gone haywire after their biggest source of revenue, the aviation industry, was taken out of action as part of the nationwide lockdown, imposed to contain the spread of the novel coronavirus.
Speaking to IndiaToday.in, Nishant Pitti, the CEO of EaseMyTrip (EMT), a New Delhi-based online travel agency (OTA), said the company is staring at losing a major chunk of its annual target of Rs 8,000 crore for FY21. It is worth EMT had sold airline tickets worth Rs 4,200 crore in the last fiscal year.
Pitti says it will be impossible now for the company to aim for anything more than 20-25 per cent of the annual target set for FY21 as uncertainties remain at large in the aviation and travel sectors.
When asked how many jobs are at risk in the broader travel, tourism and aviation industry, he said roughly 28 million employees may face difficulties if there is no improvement in the situation.
The cash-strapped aviation industry in India is witnessing major payouts and a large number of layoffs may be unavoidable without a relief package.
08/05/20 Koustav Das/India Today
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Speaking to IndiaToday.in, Nishant Pitti, the CEO of EaseMyTrip (EMT), a New Delhi-based online travel agency (OTA), said the company is staring at losing a major chunk of its annual target of Rs 8,000 crore for FY21. It is worth EMT had sold airline tickets worth Rs 4,200 crore in the last fiscal year.
Pitti says it will be impossible now for the company to aim for anything more than 20-25 per cent of the annual target set for FY21 as uncertainties remain at large in the aviation and travel sectors.
When asked how many jobs are at risk in the broader travel, tourism and aviation industry, he said roughly 28 million employees may face difficulties if there is no improvement in the situation.
The cash-strapped aviation industry in India is witnessing major payouts and a large number of layoffs may be unavoidable without a relief package.
08/05/20 Koustav Das/India Today
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