INDIA. Publicly listed Indian airport services aggregator DreamFolks has announced the discontinuation of its domestic airport lounge services, citing a material impact.
The disclosure was made in an updated stock exchange filing yesterday (16 September), where the company added that other domestic services and international lounge operations will remain unaffected.
This development follows contract suspensions with Adani Digital and Semolina Kitchens, effective 15 September, while Encalm Hospitality is set to exit in November, according to a previous announcement on 29 August.
Earlier this month, Travel Food Services (TFS) announced the termination of its agreement with DreamFolks, stating that the decision came after unsuccessful attempts to re-negotiate commercial terms.
Dreamfolks said, “In response to these developments, the company has strategically accelerated its focus on global lounge business while actively repositioning towards diversified and sustainable offerings, thereby ensuring long-term value creation for clients and stakeholders.”
DreamFolks clarified that services currently remain fully operational, with client contracts still active, and discussions are underway with clients on alternate value propositions. ✈
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