Ride-hailing apps were cruising towards recovery—but then came India’s second Covid-19 wave ...Middle East

Quartz - Economy
Ride-hailing apps were cruising towards recovery—but then came India’s second Covid-19 wave
source : Quartz ( Middle East ) () 20
After nearly a year of Covid-triggered slump, ride-hailing companies in India had finally started recovering in early 2021. But the onset of the second wave of the pandemic could hit the breaks on recovery.Companies like Ola and Uber were nearly completely out of business during April and May last year as India was under lockdown. Between June and December 2020, these apps saw “gradual recovery,” according to market research firm RedSeer Consulting. The recovery after the lockdowns was slow mainly because offices continued to remain shut and most people chose to stay indoors as a precaution against Covid-19.By March this year, ride-hailing companies’ business had recovered to around 70% of t

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