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What: Shares of Indian online travel site MakeMyTrip (NAS: MMYT) were hitting some turbulence today, falling as much as 19% in intraday trading.
So what: What good is a travel website without access to airlines? Investors appeared to be asking themselves that today as MakeMyTrip butted heads with IndiGo and Jet Airways, two major airlines in India. The airlines are ticked about MakeMyTrip’s continued use of “opaque fares” — the practice of offering customers a deeply discounted plane ticket, but not revealing who the carrier is until the purchase has been made.
India’s Directorate General of Civil Aviation had asked airlines to stop publishing opaque fares last month and IndiGo, which pulled all of its flights from the website, contends that MakeMyTrip didn’t comply. India’s Business Standard quoted…