The Mukesh Ambani-promoted Reliance Retail’s plans to enter the travel space is gaining momentum. The company has applied to the International Air Transport Association (IATA), the industry body for accreditation and registration of travel agents and airlines, for starting a travel agency outlet in Mumbai.
The company plans to be in the entire gamut of travel-related business offering services like ticketing, hotel rooms, holiday packages, travel insurance, car rentals, among other products. Sources in the travel and airline business told ET that Reliance Retail has drawn out plans to set up 140 travel outlets in India and abroad.
Even though a senior IATA executive confirmed the development, a Reliance spokesperson declined to comment. It usually takes up to two months for accreditation formalities to get completed.
“As part of Reliance’s retail strategy, they now want to tap the tier II and III towns in India by providing them access to superior travel services,” an industry source revealed.
20/09/07 Sudipto Dey & Moinak Mitra/Economic Times