Musafir Holdings has signed an agreement to acquire FLYCT MEA Holdings, the operator of Cleartrip.ae and Flyin.com in the Middle East, in a move that would expand its consumer travel offering and strengthen its regional platform.
Under the proposed transaction, Musafir Holdings will acquire the remaining 75% stake in FLYCT currently held by its founding management team. Musafir already owns 25% of the business. The transaction remains subject to customary regulatory approvals.
The acquisition reflects Musafir’s plans to continue investing in the regional travel sector and its confidence in the long-term growth of the Middle East travel market.
Expanding the Travel Offering
FLYCT operates consumer-focused air-booking platforms through Cleartrip.ae and Flyin.com, with an established customer base across the region.
Musafir offers a broader range of travel services, including visa services, holiday packages, corporate travel and B2B agency solutions.
Subject to completion of the transaction, bringing the businesses together is expected to create a more integrated regional travel platform, giving customers access to a wider range of travel products and services.
“FLYCT has built two outstanding consumer platforms and bringing them into the group will help build a stronger, more complete regional travel business that better serves customers,” said Shaikh Mohammed Abdulla Mohammed Al-Thani, Co-Founder and Chairman of Musafir Holdings.
A Broader Regional Platform
Sachin Gadoya, Co-Founder and Chief Executive Officer of Musafir Holdings, said Cleartrip.ae and Flyin.com are a natural fit for the group.
“For customers, this means more choice, a fuller range of products and a better experience,” Gadoya said, adding that Musafir looks forward to welcoming the FLYCT team and strengthening its customer offering.
Stuart Crighton, Founder and Chairman of FLYCT, said the two platforms had grown into leading air-booking services for customers across the region.
He said Musafir’s broader travel proposition and regional presence would help take the business forward and provide further benefits to customers.
The proposed acquisition would give Musafir full ownership of FLYCT and bring its consumer air-booking platforms together with Musafir’s wider travel services, subject to regulatory approval.
