Dreamfolks announces resolution of lounge access disruption

23 Sep 2024 , 11:08 AM

Shares of DreamFolks Services plummeted up to 4% on Monday after the firm reported that it is currently dealing with a service disruption.

DreamFolks Services provides lounge access, eating, and airport retail services.

The interruption first surfaced when Adani Airports Holdings Ltd. stated that travelers at airports across the country were suffering disruptions in lounge access owing to a “unexpected suspension of services,” which violated its service agreements with the impacted airports.

DreamFolks’ answer to the conversations followed Adani Airports’ comment. DreamFolks stated that the team is striving to discover the underlying reason and implement changes as soon as feasible.

“We would like to stress that all of our contractual agreements remain in full force. We are fully compliant with our obligations and are carrying out our services accordingly,” DreamFolks stated in an exchange filing.

There has been no further update from DreamFolks since the one issued on Sunday.

Earlier last month, DreamFolks revealed plans to expand into highway eating for travellers. The service will be available at nearly 600 shops along major routes across the country.

At around 10.39 AM, Dreamfolks was trading 0.38% lower at ₹499.30, against the previous close of ₹501.20 on NSE. The counter touched an intraday high and low of ₹502.70, and ₹480, respectively.

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