Spicejet, EaseMyTrip Thai sales agreement lift shares of both companies

Stock market today: Shares of Spicejet and tech company EseMyTrip shot up in early morning deals on Friday after both the companies announced to enter general sales agreement. Spicejet shares today opened upside and hit intraday high of 51.35 apiece levels, logging more than 7 percent rise in early morning deals. Likewise, EaseMyTrip share price today opened with upside gap and went on to hit 434.45 per share levels, recording more than 3 percent rise from previous session close.

EaseMyTrip informed Indian stock market’s exchanges about the sales deal citing, “EaseMyTrip Thai, a wholly-owned subsidiary of EaseMyTrip launched in 2021 in Thailand signs an exclusive General Sales Agreement with SpiceJet Airline to sell, promote and market passenger tickets and other services to passengers in Thailand effective 1st September, 2022. To have a strong foothold in the market, EaseMyTrip Thai will be extending operations of SpiceJet by opening an independent branded office and representing the airlines in Bangkok, Phuket and other locations in an attempt to cater to the larger travel markets.”

Commenting on the occasion, Nishant Pitti, CEO and Co-Founder said, EaseMyTrip said, “Thailand is a very important market for the travel and tourism industry and we are seeing a huge pent-up demand in the market. EaseMyTrip has achieved Indian customer trust and is excited to establish the same trust with the Thai customers. We are extremely proud to initiate the GSA with SpiceJet being it amongst the largest carriers which will enable the Thai locals to avail SpiceJet’s valued services”

Shilpa Bhatia, Chief Commercial Officer, SpiceJet, said, “We are delighted to appoint EaseMyTrip Thai as our new GSA for the Thailand market. This strategic partnership will help us tap the growing traffic to the ever popular tourist destinations like Bangkok and Phuket and the increased leisure and business traffic from Thailand to India and beyond. SpiceJet remains committed to growing its network to include new and exciting destinations both within India and abroad. This agreement represents a significant milestone in our mission to provide seamless end-to-end service to travelers.”

This is the first time that EaseMyTrip Thai, is entering into such an arrangement for two years exclusively with SpiceJet as a strategic intervention which is an attempt for both companies to expand in its services in the Thai Market. Under this arrangement, EaseMyTrip will be exclusively responsible for SpiceJet’s ticket operations in the territory that will help Thai customers to avail the services of SpiceJet. Additionally, all the travel agents have to route their business through EaseMyTrip for buying tickets of SpiceJet from Thailand.

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