Easy Trip Planners (Easemytrip) - An outlier in OTA

[luckbychance]

@luckbychance

Domestic air traffic rises 67% y-o-y in Oct | Mint

Air traffic at 8.8mn. Even at avg 8mn for 3rd quarter, it means 24mn pax in 3Q (Dec is travel heavy). OTA’s share ~ 60%. That gives us 14.4mn. EMT’s market share as per ixigo’s DRHP = 19%. Let’s take 15% and we’re looking at 2.16mn pax arrivals (or tickets) courtesy EMT

So approximately 20%+ rise in QoQ compared to Q2 (1.8mn)

GBR in Q2 = 895crs. Take your guess for GBR in Q3.

D - Invested. Biased.

I had estimated a 8mn/month pax flow on avg for Q3. October figures are out and are at 8.8mn. Q3 is also the best time for air traffic. My guess is Q3 will have 8.5 to 9m/month traffic which translates to 25.5 to 27mn for Q3.

EMT might see a good jump in GBRs. ICICI Direct in its latest report had estimated 3300crs of GBR for EMT in FY22. My sense is EMT will end up doing around 3500crs of GBR for FY22.