What MakeMyTrip, Ixigo, TBO, and Yatra’s Earnings Calls Reveal

Last month, four of India’s largest travel companies — MakeMyTrip, Ixigo, TBO Tek and Yatra — held quarterly earnings calls within days of one another. All four spoke about AI, but revealed sharply different ideas about what AI will actually mean for travel, and how quickly it may change their businesses.

Some are rebuilding products around AI. Others are treating it as a tool to improve productivity. And at least one appears unconvinced that the industry is close to a meaningful disruption.

Ixigo: The Most Ambitious Pitch

Days after relaunching its app, Co-Founder and Co-CEO Rajnish Kumar used a significant portion of the company’s May 21 earnings call to describe “Ixigo NEXT,” which he framed as more than a chatbot added to an existing app. The company’s argument is that travel software itself is changing.

Instead of navigating menus and filters, users would increasingly interact conversationally with an app that remembers preference