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Vijay C Roy
Tribune News Service
Chandigarh, March 9

Covid scare has crippled travel industry in the region with over 95-98 per cent bookings cancelled and offices of tour operators wearing a desolate look, despite it being a peak period (February-March) for outbound tourist destinations. Many operators have trimmed their workforce with layoffs.

SENSEX TANKS 1,941 POINTS

Biggest ever one-day fall CLOSES AT 35,634.95
The carnage in the equity market wiped out investor wealth worth Rs6,84,277.65 crore
The broader Nifty settled at 10,451.45, dropping 538 points or 4.90 per cent. business

“Over 95-98 per cent bookings have already been cancelled, and the list is only growing by the day. The industry has taken a severe hit owing to travel restrictions,” said Gagan Sachdeva of IV Holidays.

For vacations in April-July, people usually plan their holidays in February-March when they get the best rates for hotels and airlines. Among the most preferred destinations are Italy, Switzerland, Paris, Singapore, Malaysia, Thailand and Bangkok.

“The entire travel industry is feeling the pinch. A book fair scheduled for March in London has been cancelled. So have several other events.

We our struggling to stay afloat,” said a worried Neeraj Malhotra of Ganpati Travels. Worth over Rs 3,000 crore, the tourism industry in North had been growing at 16-20 per cent annually, say travel agents.This year, however, the operators are finding it hard to meet fixed expenses.

Oil plunges by 33%

Crude oil rates tumbled 33% after Saudi Arabia launched a price war with Russia
Saudi Arabia had stunned markets with plans to raise its production significantly after the collapse of OPEC’s supply cut agreement with Russia
Brent crude futures slid $12 to $33.20 a barrel in chaotic trade

To fix the problem, SOTC India, one of the leading travel and tourism companies, has come out with flexi travel options. Daniel D’souza, president and country head of the company, says: “We have rolled out a scheme for new customers assuring them flexibility on departure dates.” Also, outbound tour operators have started promoting domestic tourist locations. The Travel Agents Association of India has sought Centre’s intervention to resolve issues dealing with cancellations.