MakeMyTrip: Hotel Growth Offsets Decline in Air Travel; New IPO Details

India’s largest online travel company says the country’s aviation market is going through a rough period, but that Indians aren’t traveling less. MakeMyTrip said flights saw a roughly 2% year-over-year decline during the quarter, a contraction Group Chief Operating Officer Mohit Kabra called “unprecedented.” The company also warned that Indian airlines are trimming wide-body, long-haul aircraft, suggesting higher international fares and constrained westbound capacity could persist beyond the immediate geopolitical disruptions in West Asia. Instead of canceling trips, however, travelers are increasingly switching transport modes and destinations. Short-haul, drivable vacations and luxury bus and intercity cab bookings grew between 30% and 40%, while travelers priced out of flights increasingly opted for road transport. Group travel among Gen Z