Cleartrip joins forces with Saudi Arabia’s Flyin

Travel aggregator Cleartrip has joined forces with Flyin, Saudi Arabia's largest online travel aggregator (OTA). The deal is the first major cross-border transaction of its nature by an Indian OTA, strengthening the dominant position of Cleartrip in the region, the company said.

The partnership will benefit both Cleartrip and Flyin as they make strides to capitalise on the growing shift to online in the MENA region, which is home to a large population of tech-savvy consumers and has among the highest levels of smartphone and internet penetration in the world. The combined company will have over 60% market share throughout the Middle East and improved profitability due to better unit economics and larger scale of operations

This transaction, the largest in the travel space in MENA, will offer Cleartrip a wider outreach and a larger client base in an adjacent market, providing economies of scale as well as enhanced competencies and regional knowledge. Cleartrip has recorded rapid growth year-on-year since the company made its first international expansion in 2012 to become the largest OTA in the Middle East.

Stuart Crighton, Founder and CEO of Cleartrip said, “The transaction represents the culmination of our search for a strategic partner that has outstanding market association in Saudi Arabia and shares our business ethos and principles.”

“Building on Saudi Arabia’s evolving entrepreneurial ecosystem, Flyin has firmly established itself as the leading player in the Kingdom’s online travel market. With its strong customer base and rich travel offerings, Flyin is the natural partner for us in the region. We will leverage each other’s strengths to enhance product development and customer experience” Crighton added.

Abdullah Al Romaih, Founder of Flyin, said, “We are embarking on a new journey to reinforce our leadership position in Saudi Arabia’s online travel market. Bringing over a decade’s international experience and industry-leading technologies and skills, Cleartrip will also help us to offer our customers new and enhanced travel experiences."

The transaction will enable both companies to leverage new technologies, talents and business intelligence to strengthen their travel offerings to cater to a diverse customer base. The transaction will close once final regulatory and corporate approvals are received.