Working with clients for alternative engagement models, says DreamFolks promoter Liberatha Kallat

Aeoro Lounge at the Cochin international airport
| Photo Credit:
THULASI KAKKAT

DreamFolks is working with clients to explore alternative engagement models for their customers following the discontinuation of certain lounge access programmes by ICICI Bank and Axis Bank, its promoter Liberatha Kallat said on Thursday.

“At this stage, it is too early to quantify any specific impact, as our contracts with the clients remain intact. We are actively working with them to explore alternative engagement models, leveraging the breadth of our existing as well as new service offerings, products outside the airport and they are happy to include them as part of their new CVP (consumer value proposition),” Kallat told businessline.

DreamFolks is a travel and lifestyle aggregator and its stock is under pressure for the second consecutive day.

“We would like to assure our investors that this is a temporary phase. We remain fully committed to long-term wealth creation and are actively evaluating all possible alternatives to mitigate any potential impact,” she said.

Response to Adani statement

Responding to Adani group’s comments that no intermediaries are required for offering lounge access at airports, she said eco-system of benefits is far more expansive than just airport lounges and banks want the full bouquet of bespoke solutions with spend-based, personalisation, custom app integration and loyalty engines.

She also reiterated her attack on airport operators accusing them of pressure tactics. “Instead of competing in terms of innovation, technology, or service, the competition has been pressurising and threatening both the aggregators and the banks that they will physically stop access to that bank’s cards at the airports,” alleged Kallat.

Published on July 3, 2025