Uber CEO Says Airport Rides Have Slowed a Little
March 04 2020 - 6:05PM
Dow Jones News
By Preetika Rana
Uber Technologies Inc. Chief Executive Dara Khosrowshahi said
rides to and from airports, which account for about 15% of the
company's rides bookings, have slowed because fewer people are
traveling amid the coronavirus epidemic.
"Our airports business has slowed down a little bit relative to
the balance of the business overall," Mr. Khosrowshahi said
Wednesday at a Morgan Stanley conference in San Francisco. But
"it's nothing we can't adjust to," he added, without giving
specifics.
Mr. Khosrowshahi said the markets hardest hit by the virus, such
as China, South Korea and Iran, account for 1% of the company's
global bookings, so "it's not material for the company
overall."
He acknowledged, though, that Uber's rides business "will take a
hit" if "people stop leaving the house" in other markets where it
has a stronghold. In that scenario, "Eats will probably actually be
benefited," he said, referring to the company's food-delivery
unit.
Uber has also warned that shutdowns in China could disrupt the
dockless bikes and e-scooters supply chain. "We depend on a limited
number of suppliers for our dockless e-bikes, and on a single
supplier for our e-scooters that also supplies our primary
competitors," the company noted in its 2019 annual report this
week. "It is possible that we may not be able to obtain a
sufficient supply of dockless e-bikes and e-scooters in a timely
manner, or at all."
Write to Preetika Rana at preetika.rana@wsj.com
(END) Dow Jones Newswires
March 04, 2020 17:50 ET (22:50 GMT)
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