Sept 16 (Reuters) – Dreamfolks Services (DREM.NS) announced on Tuesday that it has stopped providing airport lounge services within India.
However, its other domestic offerings and international lounge services will continue as usual.
Company Warns of Major Impact
Dreamfolks stated that this decision would have a significant impact on the business, though it did not share specific details.
Challenges from Airport Operators
Dreamfolks, which connects lounge operators with card networks and travelers, started facing issues when airport operators began offering lounge access directly to customers.
Loss of Key Clients
In August, Dreamfolks said that three major clients — Encalm Hospitality, Adani Digital, and Semolina Kitchens — would be ending their contracts. The company also mentioned plans to focus more on its international lounge services.
Earlier Program Cuts with Banks
Earlier in July, Dreamfolks had announced it would stop certain programs for two of its banking clients, Axis Bank (AXBK.NS) and ICICI Bank (ICBK.NS).
Client Contracts Still Active
Despite the recent changes, the company said on Tuesday that its contracts with clients are still active, and talks are ongoing to explore alternative services for customers.
Stock Performance Declines
Dreamfolks shares have fallen 65% so far in 2025.
