Yatra.com, an online travel agency, has reported an impressive 85 per cent increase in business for FY23, surpassing the domestic air traffic growth of 65 per cent in the first nine months of the year. The company’s buses and trains segment saw a staggering 150 per cent increase, with expectations of continued growth in FY24. COO and co-Founder Sabina Chopra stated that the company aims to achieve five-fold growth in its corporate travel business over the next five years.

Chopra further commented, “Travel has come back to normalcy now, and people are travelling without fear of Covid. Combining our B2B and B2C segments, we are almost back to pre-Covid level numbers. We expect this secular trend to continue ahead, and Yatra to reap the benefit of the same, especially on the corporate side due to its superior tech and service capabilities.”

“Domestically, both corporate and leisure segments are above and beyond the pre-Covid level numbers,” said Chopra. “We have noticed a hike of 30 to 40 per cent in hotel ADR post-Covid as compared to pre-Covid. This is a great trend given that the industry has had two years of a lull period.”

Also read: Domestic air traffic: Akasa grabs share from IndiGo, Vistara, SpiceJet in January

Chopra explained that travellers are opting for alternative modes of transportation, such as buses and trains, due to a hike in airfares over the past few months. She noted, “The demand for trains and buses has grown by 150 per cent in 2022 compared to 2021, we expect this trend to continue in the next fiscal as well.”

Regarding corporate travel, Chopra stated, “Domestic corporate travel has crossed pre-Covid level numbers. We have 770 marquee corporations associated with us, and almost all companies are opting for domestic travel at this point in time; albeit, international travel still isn’t back to pre-Covid levels. Anyway, we are the largest in the corporate segment and we are aiming for a five-fold growth in its corporate travel business over the next five years.”

On the international segment, Chopra noted, “While the demand for short-haul travel is back, and the industry is seeing a surge in searches and bookings, long-haul travel continues to remain constrained. Visa issues continue to persist, and the airfares have shot up like never before.” She also mentioned that Yatra.com has started offering Visa services and that “in the corporate travel business, we have witnessed 300 per cent growth in visa requirements.”

Also read: Long-haul passenger traffic in India to increase 7% annually: Boeing

In conclusion, Yatra.com has reported a significant increase in business, exceeding the domestic air traffic growth rate. The company aims to continue expanding its corporate travel business, while also capitalising on the surge in alternative modes of transportation and offering visa services to customers.

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