Easy Trip Planners have acquired a 75% stake in Nutana Aviation Capital. Nutana Aviation Capital is an aviation asset financing and leasing company based in GIFT city, Gujrat.
“The company is entering into a definitive agreement to acquire the 75% stake in Nutana Aviation Capital IFSC Private Limited. In a growing charter market across the globe, Nutana Aviation will be carrying business for renting and booking of charter aircraft,” Easy Trip said in a stock exchange filing.
According to Reuters, Easy Trip Planners is looking to step up acquisitions to bolster its non-air travel business as a pickup in demand sets it on course for a strong third quarter. The company was founded by Nishant Pitti, Rikant Pitti, and Prashant Pitti in 2008 and is headquartered in New Delhi, India. It deals with hotel bookings, air tickets, holiday packages, bus bookings, and white-label services.
The company reported a record Q2FY23 Gross Booking Revenue (GBR) of Rs INR 197.7bn, the highest ever in any quarter. Easy Trip reported a net income of INR 11.20bn in Q3 as against INR 5.97bn in the last quarter with an almost 87.5% increase.