VC firms have poured more than USD 80 billion into Asian travel and mobility tech startups from 2010 to 2019.
Distribution revenue came in at USD 105 million, a decline of 84% year-on-year while IT Solutions revenue was USD 132 million down 46% year-on-year.
Passengers boarded contracted by 63.0%, to 553.2 million for the first nine months of the year.
"The travel industry and the world still face a prolonged and bumpy path to recovery, with increasing COVID-19 cases and uncertainty around vaccine and therapeutic timelines."
Zhiketong targets to have clients’ total transaction value exceeding the RMB 100 billion (USD 14.97 billion) mark by 2025.
The number of weekly international flights serving mainland China from late October through next March is set to decline by 96.8%.
Global comparable RevPAR declined 35% year-on-year while system-wide rooms declined 2%.
A full industry recovery will take time and uncertainty remains regarding the potential for further improvement in the short term.
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