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Credit crunch is impacting travel behaviour of people: MakeMyTrip CEO

MakeMyTrip’s Deep Kalra senses that a slowdown is approaching. The lack of credit and problems with NBFC’s is now impacting the end-users.

He stated that domestic tourism is on a decline and people prefer to travel overseas for a better experience. He rated govt’s Udaan scheme, which connects smaller airports, success as it allows more people to travel by air. According to him, the Indian market isn’t big enough to accommodate 7 airlines and that the ongoing consolidation is much needed.

MakeMyTrip has a 26.4% share in domestic air ticket bookings and gets around 34% of its revenues from air ticketing.