Dreamfolks shares crash 70% since January: What's happening
Dreamfolks Services, known for making airport lounges more accessible, just saw its shares drop another 5% to ₹124.51 on the NSE.
The big reason? They've abruptly stopped all domestic airport lounge services in India, leaving clients without access.
The company says it'll keep running other domestic perks and international lounges, but this move has had a material impact on the company and its investors.
Major contract losses and rising competition
This change happened right after Travel Food Services pulled out of its deal with Dreamfolks on September 15, 2024—marking the third major contract loss lately (after Adani Digital, Semolina Kitchen, and Encalm Hospitality).
With big airport operators like Adani Airports and GMR Airports now building their own platforms, Dreamfolks faces some serious competition.
As a result, their share price has crashed nearly 70% since January this year.