Indian Online Travel Agency Cleartrip Acquires Flyin

Cleartrip, the second-largest homegrown online travel company in India after MakeMyTrip, has acquired full control of Flyin, the largest online travel company based in Saudia Arabia — where most travel continues to be booked offline. The combined company will have more than 1,000 full-time employees, a spokesperson said. Mumbai-based Cleartrip has been in a fierce battle for market share in India with MakeMyTrip, which is an online travel agency in a model similar to Expedia, as well as with Yatra. Companies have resorted to discounting to acquire customers, leading all three online travel players to remain money-losing in India for years. The Middle East market has not yet seen as much competition, which means Cleartrip has a chance to grow there more profitably. Prior to this acquisition, in the fourth quarter of 2017, Cleartrip saw a 59 percent year-on-year increase in bookings in the Middle East region, though it didn't disclose the actual volumes. It will launch its Cle