Uber and Lyft both lose a lot of money, in part because they give large discounts on rides as they compete for market share. That could all be ending, though, according to Wired.
Both companies are raising prices for some rides and, an Uber official said, the price war between the two may be ending.
“We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing generally, category positions that are stable,” said Dara Khosrowshahi, CEO, Uber. “We are focused on improving profitability in this market.”
Uber recently reported a $5.2 billion quarterly loss; Lyft, meanwhile, reported a $644 million loss. Uber’s losses in part come from its initial public offering in the spring, but also from expanding the Uber Eats service and declining revenues in Latin America, where the company faces competition from Chinese ride-sharing firm Didi.
Lyft said its losses are from growth-related spending, expected to ease in the near future. Neither company told investors when they would become profitable.
The Bahamas Ministry of Tourism & Aviation is working on a reopening strategy, known as the Tourism Readiness and Recovery Plan, alongside the Tourism Readiness and Recovery Committee, to welcome travelers back to the country. The collaboration will work to reopen the tourism sector and resume international commercial travel beginning July 1.
Looking for a truly unique travel experience and considering a new vehicle? The Volvo Overseas Delivery Program is the perfect solution to create your own adventure of a lifetime. Volvo allows you to custom order your new automobile tailored to fit your needs and desires. They will fly you to Sweden to pick up your Volvo so you can drive and explore Scandinavia and Europe on your terms for up to two weeks.
The cruise industry responds to the COVID-19 pandemic with updates on cancellations and rebooking policies. Here’s an update.
Norwegian Airlines became a hit over the years as it provides affordable airfare on modern aircraft between Europe and North America. The airline offers its own CashPoints system for frequent flyers, but U.S. travelers are also able to sign up for the airline’s credit card to accumulate points for more than just flying.
United Airlines’ environmentally friendly efforts lessen the impact on local U.S. communities.
With travel picking up again in different parts of the world, it’s time to start planning your #ComeBacktoTravel vacation. If you are looking to book through a travel agent or company, consider supporting one of these black-owned travel businesses:
Seabourn Cruise Line launches a special bonus commission offer, strengthening its commitment to travel advisors. A 4 percent bonus commission will be available for new bookings made on 2021 sailings to Alaska, Europe and Canada/New England. Learn more.
The city took its name from Athena, goddess of wisdom, strategy and war, and protector of the city. The financial, political and administrative center of the country and an all-powerful city-state in antiquity, Athens is a major center of culture. A visit to the first-ever museum dedicated to Byzantium, a stroll around the National Garden and a trip to the Olympeion archaeological site will take you back through time.
Global Traveler surveyed its readers last week via an online survey to learn more about travelers’ plans pre- and post-COVID-19 shutdowns. According to respondents, 78 percent are planning a trip in 2020, with 55 percent saying they are more likely to travel domestically first. Nearly all, at 85 percent, canceled trips because of the pandemic.