EaseMyTrip share price surges as co-founder suspends Maldives bookings amid diplomatic row

EaseMyTrip's share price surged by over 5% during Monday's trading session. This rise came amid the company's co-founder and CEO, Nishant Pitti, announcing the suspension of all flight reservations to the Maldives. This decision was taken in response to disparaging remarks made by Maldivian ministers concerning India and Prime Minister Narendra Modi.

The day commenced for EaseMyTrip at an intraday low of ₹41.90 on the NSE. Pitti took to social media platforms to express solidarity with India, stating, “In solidarity with our nation, @EaseMyTrip has suspended all Maldives flight bookings."

In solidarity with our nation, @EaseMyTrip has suspended all Maldives flight bookings ✈️ #TravelUpdate #SupportingNation #LakshadweepTourism #ExploreIndianlslands #Lakshadweep#ExploreIndianIslands @kishanreddybjp @JM_Scindia @PMOIndia @tourismgoi @narendramodi @incredibleindia https://t.co/wIyWGzyAZY

— Nishant Pitti (@nishantpitti) January 7, 2024

Pitti further complimented the pristine beauty of Lakshadweep's beaches and waterways, drawing comparisons to popular tourist destinations like the Maldives and Seychelles. He vowed to introduce exclusive deals to garner attention towards the Lakshadweep region, kickstarting the #ChaloLakshadweep campaign.

The viral hashtag #BoycottMaldives gained momentum across social media as Indian travellers postponed their planned trips to the island nation amidst the escalating tensions between India and the Maldives. This outcry was sparked by Maldivian politicians' criticisms of PM Modi and their mockery of his visit to Lakshadweep, acknowledging it as a tourist destination.

Reports from Rajiv Mehra, President of the Indian Association of Tour Operators, revealed there was a sudden drop in bookings, with refunds unlikely for payments made by individuals. Predictions suggested a decline in travel plans to the Maldives.

Following the diplomatic row, more than 8,000 hotel reservations and 2,500 airline tickets have been cancelled by Indian tourists. India accounted for the largest number of visitors to the Maldives (2,09,198), closely trailed by Russia (2,09,146) and China (1,87,118), reported Mint.

In the wake of his visit to Lakshadweep, PM Modi shared multiple photos, including a thrilling snorkelling experience. His social media posts portrayed the archipelago's snow-white beaches, azure skies, and crystalline waters, advocating for Lakshadweep to be a must-visit for adventure enthusiasts.

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