According to reports, IBS Software, a leading SaaS solutions provider to the global travel industry, will look at more business opportunities in the airline industry as well as the loyalty programs segment in India, which is also a price sensitive market.

The company's founder and executive chairman, V K Mathews, expressed optimism about the future of the global travel industry by stating that the Indian market had enormous growth potential.

About 5,000 employees and 200 clients in the aviation, travel and cruise, hotel, and energy and resource sectors work for the Singapore-based Software as a Service (SaaS) solutions provider.

Among its customers are Royal Caribbean International, Emirates, British Airways, China Airlines, Cathay Pacific, Etihad, Japan Airlines, KLM, Lufthansa, Virgin Atlantic, Hyatt, Hilton, Chevron, and ADNOC. In India, IBS is putting IT solutions for Air India's personnel travel management and air cargo operations into place.

The company is also looking at opportunities to work with IndiGo and Akasa Air and highlighted that it has the broadest portfolio of products for the aviation and travel business.

India is one of the world's fastest-growing civil aviation markets, and domestic airlines are expanding their fleet and network to meet the rising demand.

“In India, which is a very price-sensitive market, IT is seen as a cost and not as a value yet, but the trend is changing. As the economy progresses, the differentiation will come from value. Now, differentiation is coming from cost,” adds Mathews.

“In airline retailing, a lot of things can be from the airport, but we provide retailing capabilities to airlines for airports; we have solutions from a commercial aviation point of view. Departure controls, check in, cargo management, all of those things we do,” says Mathews.