Lyft Airport Rides Approach 2019 Levels – Business Traveler USA
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Rideshare company reports the percentage of airport volume in 2021 was close to pre-pandemic numbers
Rideshare company Lyft reports that rides to and from airports constituted 9 percent of its ride volume in the fourth quarter 2021. Lyft CFO Elaine Paul, speaking on the company’s fourth quarter earnings call, said the percentage of airport rides last quarter was close to the 9.4 percent levels in the same period 2019.
Airport rides are longer and account for higher revenue per ride, she said.
Overall ridership in both November and December increased by more than 30 percent versus 2020, although the numbers were down from October, Paul said.
The company reported the number of active drivers reached a pandemic high in the fourth quarter, and new driver activations remained robust, up nearly 50 percent in the quarter compared to the previous year. Thanks to the growing supply, Paul said, “we were able to support an improving marketplace balance and a higher volume of rides.”
As a result, Lyft’s fourth-quarter revenue posted a 70 percent gain year over year, coming in at $970 million. For the full fiscal year, she said, Lyft achieved revenue of $3.2 billion, an increase of 36 percent versus 2020.
Looking ahead to the full year 2022, Paul said the company is “cautiously optimistic” that it will grow revenues faster than the 36 percent growth it saw in 2021.
Lyft president John Zimmer, said on the call that since 2017, Lyft riders who have chosen to link their Delta Air Lines SkyMiles accounts have earned more than two billion SkyMiles while riding with Lyft.
Lyft riders, he said, can also access real-time Delta flight information in the Lyft app. Zimmer call it a “first of its kind experience” available only through Lyft, “to simplify our riders’ journey and give them access to information they can use to make decisions about their travel.”
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