Covid-19: Ola, Uber face the heat

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Cab-hailing firms, Ola & Uber have become the latest victim of pandemic COVID-19. Ola and Uber have seen rides plunge by about a third over the past week after most companies advised employees to work remotely and avoid business travel. Office commutes and airport transfers make up the lion’s share of business for these firms.

Metros, which form the bulk of business for these cab-hailing companies, have seen the biggest decrease in business. In Bengaluru, a drivers’ association has also urged the state government to persuade lenders to waive off loan repayments on taxis.

There has been a 10% drop in business pan-India, said corporate transport solutions provider MoveInSync, which clocks over 1 lakh cab trips per day.

“The increase in the number of Covid-19 affected patients has definitely caused panic among officegoers,” said Deepesh Agarwal, cofounder and CEO of MoveInSync.

Several large tech companies like Flipkart and Paytm have asked staff to mandatorily work from home while others have allowed the option. Interestingly, self-drive businesses like Bounce and Yulu say their numbers remain unaffected.

 

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