Business
Yatra Online, Inc. Issues Letter to Shareholders
Details Company's Recent Progress Highlights Opportunities for Continued Value Creation and Growth Provides update on Ongoing Corporate Governance Review and
About this update from Yatra Online, Inc.
[{"type":"text","content":"Details Company's Recent Progress\nHighlights Opportunities for Continued Value Creation and Growth\nProvides update on Ongoing Corporate Governance Review and\nPlans for Annual General Meeting to be Held in 2022\nGurugram, India and New York, New York--(Newsfile Corp. - August 19, 2021) - Yatra Online, Inc. (NASDAQ: YTRA) (OTC Pink: YTROF) (\"Company\"), India's leading corporate travel services provider and one of India's leading online travel agencies, today issued a letter to shareholders sharing the Company's excitement for Yatra's future and the compelling value opportunity represented by Yatra shares.\nThe full text of the letter released to shareholders today follows:\nDear Fellow Shareholders,\nI am reaching out at an important time for Yatra. Over the last 15 years, we have grown our business to become India's leading online travel agency. Thanks to our employees past and present, we have developed and enhanced our technology, expanded our offerings, and served more than eleven million customers in India.\nThe past 18 months, everyone across India, including our team at Yatra has faced difficult challenges. A staggering number of us at Yatra have lost loved ones. This has been a period in which those among us with less were disproportionately hurt by joblessness and poverty and when companies across our country stopped traveling. During this unprecedented time, many companies discovered what they really were and, in some instances, what they might become.\nAt Yatra, we took a number of steps to navigate this environment and to refocus on our standalone plan following the breakdown of our planned merger with Ebix. We have continued to invest in our business and made a number of difficult but necessary decisions to reduce costs and preserve cash. All of these initiatives have us better positioned than ever to serve our customers when the pandemic subsides, and our customers are ready to travel again. I am proud of what our company and our employees have achieved, collectively and individually.\nAs challenging as the last 18 months have been, we look ahead with optimism to our value creation opportunities, due in large part to the factors outlined below:\n\nIndia is vaccinating nearly five million people each day. The vaccine news in India since June has been encouraging. India is vaccinating nearly 5 million people per d...