New Delhi, Sept. 17 -- Dreamfolks Services Ltd, once the largest aggregator of airport lounges in India, announced the closure of its domestic lounge access business on Tuesday. While it still offers services beyond lounges in India, these contribute only 7% to the company's revenue.

Following the news, the company's shares slipped 5% to Rs.131.07 on the National Stock Exchange on Wednesday.

Will Dreamfolks' move impact lounge users? What does it mean for the company's business? Mint decodes

Dreamfolks' biggest clients, banks, who used to rely on the company for airport lounge access, have pulled out of its network. With airport operators becoming lounge aggregators themselves and offering these services directly to banks, competition ...