EbixCash reports overall y-o-y Corporate Travel business growth of 60% in 2023

EbixCash Limited has reported exceptional performance across all travel business verticals. The company has reported that its Corporate Travel business grew year-over-year (YOY) by 60% on an overall basis in 2023. EbixCash Travels added approximately 57 new clients in the prestigious large and mid-cap segment in 2023 itself. The group reported growth of approximately 40% in its business with LCC carriers while its GDS segments YOY grew by 37%. EbixCash Travel reported YOY growth of 33% in its business with the top line LCC carrier Indigo. EbixCash’s international passenger YOY growth was 52% across its India airline business.

EbixCash Travel Managing Director Naveen Kundu said, “We are excited to have outperformed the travel industry trends in 2023 in almost all segments that we operate in. All our business verticals across EbixCash Travel have performed exceptionally well while allowing us to retain a leadership position in many domestic and international markets. We look forward to 2024 with stated goal of registering a record performance in the year.”

In MICE & Event based travel businesses, EbixCash Travel continued to maintain its leadership position across India with a YOY revenue growth of approximately 25%. Passenger growth in the international MICE segment was approx. 150% YOY while it was 47% YOY across the combined domestic and international segment business. This growth was primarily driven by an approximate 80% increase in new client acquisitions in 2023.

EbixCash also reported that its overall inbound business grew YOY by 287% in terms of incoming passenger growth & 264% YOY in terms of overall revenue growth.

EbixCash Travel continued its No. 1 Leadership position in ASEAN countries like Indonesia and Philippines, where its business in aggregate grew YOY by 28%. In these countries, EbixCash Travel maintained its aggregate position as the largest contributor in airline passenger count for both for LCC & GDS carriers.

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