India’s MakeMyTrip Pushes Out Expectations for Profits Even Further Because of Pandemic
Photo Credit: The Jal Mahal Palace near Jaipur, which is the capital of the state of Rajasthan, India. Unsplash / Sayan Nath
Skift Take
One wonders whether some travel companies like MakeMyTrip Group must rethink parts of their business during the pandemic. They may continue to struggle to pay out millions in refunds to customers due to a staccato pace of travel restrictions.
MakeMyTrip Group warned Friday that it might not see profits for years. But the online travel reseller based in Gurugram, India, also argued that it's the best-capitalized of the country's homegrown travel companies to come out of the crisis stronger.
Executives predicted during a call with analysts that it will outperform smaller rivals, which will face a more intense struggle to cope with the pandemic and the related collapse in travel.
"What gives me further optimism is that we entered this crisis in a far stronger competitive and financial positioning than our peers and believe that gap will only widen as we begin our recovery," said Deep Kalra, co-founder and executive chairman of the group.
The company expects the pandemic may weed out smaller and weaker players and reign in the price war and expensive marketing battle that has ruled India's online travel scene for yea
