MakeMyTrip (MMYT) Dips After Losing Two Sales Contracts; Says Stopped Offering 'Opqaue Fares'

MakeMyTrip Limited (Nasdaq: MMYT) is notably lower following an SEC filing made Monday afternoon reporting the loss of a few contracts. Shares are off 5.6 percent on slightly higher volume.

According to the filing: "MakeMyTrip.com announced today that Jet Airways and IndiGo have ceased to allow MakeMyTrip to sell tickets for these airlines after alleging that MakeMyTrip continues to offer “opaque fares”. MakeMyTrip confirms that it has ceased to offer “opaque fares”.

MakeMyTrip is in separate discussions with each of Jet Airways and IndiGo to resume sales of their respective tickets, and advises that its financial results could be materially and adversely affected if it is unable to resume the sale of tickets of either of the two airlines within the next few weeks.

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