Easy Trip's Business
Easy Trip was founded in 2008 as a distribution channel (business to business to consumer) allowing travel agents book tickets for the offline market. In 2011, it started selling directly to customers (business to consumers) and two years later to corporates (business to enterprise). The company offers air, rail and bus tickets, hotel and holiday packages, and other value-added services.
The company provides customers an option to buy tickets without a convenience fee, ensuring a repeat transaction rate of 85.95% between April 1, 2017 and Dec. 31, 2020, according to its prospectus. The company had 10.32 million registered customers as of December.
Easy Trip allows customers to buy air tickets of two full-service and six low-cost airlines operating in India, and more than 400 full-service and nine low-cost airlines operating in other countries. 75.25% of its air ticket revenue comes from the domestic market.
Easy Trip's Revenue Model
The company earns revenue from airline tickets booked by customers via its platforms in the form of commissions and incentives.
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Its gross booking volumes jumped 54.43% in the year through March 2019 to 3.66 million; and rose 48.36% to 5.43 million in FY20.
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Gross booking volumes stood at 1.77 million in the nine months ended December, impacted by the pandemic-led lockdown .
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Gross booking revenue was Rs 4,205 crore in FY20 and at Rs 1,221 crore in the nine months ended December.
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Look-to-book ratio—a measure of site visits to conversion—improved from 5.08% in FY19 to 5.32% in FY20. It stood at 3.43% in April-December 2020.
Peer Comparison
Easy Trip competes with the like of Makemytrip.com and Yatra Online. It was the second-largest online travel agency in the nine months ended December.
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Easy Trip Planners IPO: All You Need To Know - BloombergQuint
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