How businesses of Ola, Uber tumble amid coronavirus outbreak

0
122

The panic among people is so much that Ola and Uber rides have gone down by one third in Bengaluru over the last week after companies advised staff to work from home and restrict their business travel, reported Economic Times.

Not only this, Metros have also met with a similar fate as their businesses tumble.

As the cab drivers incur losses, drivers’ association has urged the state government to persuade the lenders and waive off loan repayments of their taxis.

Tanveer Pasha, who is the president of OTU Drivers and Owners Asocisation said that there has been a 40-50% fall in the business of these cab drivers after companies advised their staff to work from home.

Well, office commuters are one of the biggest source of income for the cab drivers apart from airport pick-up and drop services. And now, it remains the most affected.

Uber’s stock fell over 12% last week on the New York Stock Exchange as the company warned analysts that the coronavirus outbreak could post a risk to its business worldwide.Moreover, the business fell by 10% pan-India said sources close to the company.

Those who are commuting to work also prefer using personal car whenever possible to restrict their contact with the virus.

In addition to this, nearly 5% of the drivers from Bengaluru who work for these cab agencies have left the city for their hometowns as the fear to get in contact with the virus as their job requires them to be around hundreds of people.

However, businesses like Bounce, Vogo, and Yulu who allows an individual to rent bikes and cars said that their ride numbers have not been affected much.

Ola officials said that the company has been taking steps to ensure the safety of their drivers and riders.

So far, 126 people have tested positive for the deadly virus and three people have succumbed to the virus in India.

Earlier, a 76-year-old man from Kalaburagi district in Karnataka succumbed to virus on March 10 marking India’s first death due to coronavirus.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.