NEW DELHI: Travel platform firm - EaseMyTrip - said on Monday that it has received in-principle Board approval to acquire a 49% stake in Big Charter Pvt Ltd, a player in India’s charter aviation sector. This marks EaseMyTrip’s entry into the charter and non-scheduled aviation market.
Financial details of the deal have not been disclosed.
“The integration of their (Big Chart) Non-Scheduled Operator Permit (NSOP) operations will allow us to cater to a wider range of premium customers, further solidifying our commitment to driving the growth of India’s charter aviation market,” said Nishant Pitti, Chairman and Founder of EaseMyTrip. Pitti has regularly shown interest in acquiring the defunct airline Go First.
The proposed acquisition of Big Charter by EaseMyTrip comes as the Delhi-based company is looking to diversify from its mainstay ticket booking business. In September last year, EaseMyTrip announced venturing into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility.
The company last month reported a 26.3% year-on-year (YoY) drop in net profit at Rs 33.6 crore for the third quarter that ended December 31, 2024, from Rs 45.6 crore in the same quarter in FY24.
The Indian charter aviation industry, currently valued at $650.5 million, is projected to grow to $1.14 billion by 2033. This growth, as per EaseMyTrip, is fueled by increasing demand for regional connectivity, corporate travel, and private flying.
This acquisition, as per EaseMyTrip, will strengthen the company’s position as a comprehensive travel provider, enabling it to capitalise on high-margin segments like charter services and NSOP operations.
Furthermore, the acquisition aligns with EaseMyTrip’s broader mission to democratise travel, particularly in Tier-2 and Tier-3 cities, where Big Charter has a solid presence, the company said. In FY 2023-24, Big Charter generated Rs 128.75 crore in revenue.
Sanjay Mandavia, Director of Big Charter, said, “Together, we are positioned to offer a more accessible and seamless travel experience, strengthening our mission to provide affordable, reliable, and high-quality travel options across India.”