Dyninno Travel Gross Bookings up 77% in 2021

GURUGRAM, India, April 13, 2022 -- Dyninno Travel, which operates International Travel Network, Aviajet, TravelTech, Asaptickets, and other travel brands, has reported its 2021 operating results. The gross bookings of Dyninno Travel, calculated as the total dollar value of all travel services booked by its customers net of cancellations, generally inclusive of taxes and fees, increased by 77% compared with 2020, amounting to $480 million.

Key Highlights

· Gross bookings increased by 77% (compared with 2020) and amounted to $480 million.

· Domestic flights' share of unique tickets increased from 19% in 2020 to 31%.

· The number of unique tickets issued reached 420,000 (+78% vs. 2020).

· The number of upsells (e.g., FareLock and Travel Care Service) increased by 97% in 2021 vs. 2020.

· The share of short-term bookings (1-3 months) was 88% of all sold bookings in 2021.

· The share of one-way tickets doubled in two years, from 12% in 2019 to 25% in 2021.

· One in ten people chose business class in 2021.

The number of unique tickets issued in 2021 grew by almost 80% to reach around 420,000. This result came close to reaching pre-COVID levels: it was only 8% fewer than in 2019 (453,000). The company achieved such a performance thanks to the launch of new business lines. Due to the closing of borders and the imposition of travel restrictions, in 2020, Dyninno Travel switched focus to developing the domestic segment in the USA and Latin America. As a result, the share of these business lines expanded by 28 percentage points compared with 2019 in terms of unique tickets issued, reaching 31% of total issued tickets. At the same time, the share of domestic flights among new clients grew to 90%.

Turning to additional services upsells demonstrated recorded growth of +97% YoY (e.g., FareLock and Travel Care Service).

The pandemic has had a big impact on travellers' behaviour: the downward trend in the number of round-trip tickets purchased has continued - their share declined from 76% in 2019 to 68% in 2021. At the same time, the share of one-way tickets has doubled – from 12% in 2019 to 25% in 2021.

Meanwhile, bookings with a short booking window are enjoying peak demand. In the last two years, the share of short-term bookings increased by 26 percentage points: 61% of passengers have begun to purchase tickets less than one month before their journey begins (vs. 35% in 2019 and 52% in 2020).

Every tenth traveller in 2021 selected business class, but the majority continue to choose economy. Before the pandemic, 13% of Dyninno Travel's clients flew business class.

The leisure segment declined while the visiting friends and relatives segment went up. The Philippines have ceded leadership to the USA due to very restrictive entry requirements. The UK, Spain, and Germany have dropped out of the top ten, while Italy has slipped from third place in 2019 to ninth in 2021. Sales are growing significantly to India, while there has been decent growth to Nigeria, Ghana, and Kenya. Pakistan has entered the top ten, at number six, while Mexico is number eight.

"In the last year, our travel business has recovered twice as fast as the market. We are planning to launch a new product on the Latin American market as well as a platform solution Dreamport for independent travel

agents. We are opening new offices. This year a new office will open in India (operations and software development) and Moldova (processing). We are also opening travel offices in Vietnam and Brazil. We are looking closely at Indonesia and Africa as client markets, and we will also develop Colombia. Even though the latter country is only in tenth place in terms of unique tickets issued, it is seventh by sold leads," comments Alex Weinstein, Chairman, and Co-founder of Dyninno Group of Companies.

About Dyninno Travel

Dyninno Travel incorporates the travel businesses of Dyninno Group, which provides products and services in the finance, travel, and entertainment sectors in 50 markets.

Dyninno Travel focuses on agency sales of air tickets and travel services to both retail and corporate clients. It manages the brands ASAP Tickets, International Travel Network, as well as a number of online services. It specializes in the "visiting friends and relatives" form of travel. The company was founded in 2004 in San Francisco.

----