Paytm Travel Records 19% Growth in Flight Bookings, Onboards Three New Carriers

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Paytm Travel Records 19% Growth in Flight Bookings, Onboards Three New Carriers

One97 Communications, through its fintech arm Paytm Travel, announced a significant 19% increase in flight bookings in the first quarter of this year, outperforming the industry's average growth rate of 3%. This growth contributed to the marketing services vertical of Paytm, which experienced a 1% rise in revenue to Rs 395 crore in the March 2024 quarter.

The company's marketing services business encompasses ticketing for travel, movies, events, advertising, credit card marketing, and deals and gift vouchers. Despite disruptions, Paytm witnessed a 28% growth in gross merchandise value (GMV) for ticketing and other services, reaching Rs 2,804 crore on a year-on-year basis, driven by an increase in market share in travel and higher event business volumes.

In addition to domestic growth, Paytm Travel reported a 15% year-on-year increase in international ticket bookings in April. To enhance its travel services, the company has partnered with renowned global technology firms like Skyscanner, Google Flights, and Wego. The recent onboarding of three new carriers, namely Cambodia Angkor Air, SalamAir, and FlyDubai, further expands Paytm Travel's offerings, aiming to cater to a broader range of customers with diverse travel preferences.