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Easy Trip Planners Ltd, which runs India’s second largest online travel tech platform EaseMyTrip, announced the acquisition of a 75 percent stake in Nutana Aviation Capital.
Nutana Aviation Capital is an aviation asset financing and leasing company based at GIFT city in India. Nutana leases aircraft and aviation equipment enabling operators to minimise lock-up of resources in asset acquisitions. It also provides charter booking services to its clients within India and abroad.
In a growing charter market across the globe, Nutana Aviation will be carrying out the business for renting and booking of charter aircrafts for EasyMyTrip.
Financial terms of the transaction, which is subject to certain closing conditions, are undisclosed.
The acquired entity will continue to run independently even after the transaction is completed.
Nutana Aviation was incorporated in 2021 at the Gujarat International Financial Tech-City (GIFT), India. Having a base at GIFT ensures that aviation leasing companies like Nutana enjoy tax holidays on capital gains and tax exemption for aircraft lease rentals.
The company was in news recently after the stock went ex-bonus of 3:1 and ex-stock split of 1:1 on November 21. Also, during the September quarter, the company recorded its highest-ever gross booking revenue of Rs 2,000 crore.
Shares of Easy Trip are trading 4.5 percent higher at Rs 65.60 after gaining as much as 9 percent in the intraday session.