Business or leisure travel is what airline & travel is all about. Both the airline as well as the travel sectors are extremely competitive sectors. Unlike the airline business which normally requires large amounts of capital investment and is governed by regulations, the travel business normally doesn't require large amounts of capital investment and is not much or heavily governed by regulations. CIU's research in airline & travel is primarily on speed, safety & comfort. Since this is a highly congested sector with many global players, we have opted for non-disclosure.