BERLIN (Reuters) – German chauffeur service Blacklane, specialised in airport transfers, is trying to faucet into demand for comparatively protected intercity journey to develop income hit by COVID-19 which additionally derailed its plans for a 2022 inventory market itemizing.
The startup, which operates in additional than 300 cities in 50 international locations and noticed income crumble because the pandemic halted air journey earlier this yr, now takes prospects from their places of work or properties on to the cities they used to fly to.
“Our bread and butter enterprise was the airport switch, usually at each locations,” mentioned Chief Govt Jens Wohltorf. “In April, revenues slumped to 1%, and since then we have now began to reinvent ourselves, roll up our sleeves and combat our approach out.”
Blacklane advertises its intercity rides, that are presently obtainable in Britain and Germany, with a security promise and honest costs.
“You’re alone (within the automobile), you’ve got the social distance, it’s far more comfy,” Wohltorf mentioned.
A one-way journey in a limousine from Berlin to Frankfurt prices from round 50 euros ($59), to Hamburg from round 180 euros and to Munich from round 350 euros. This compares with practice ticket costs to Frankfurt, as an example, of 23-200 euros.
Income is now again between 30% and 50% of pre-crisis ranges relying on the cities, the group, which had initially deliberate to interrupt even this yr, mentioned.
It’s going to take time to succeed in final yr’s income of round 100 million euros, however the firm nonetheless hopes for recent cash from traders and a future inventory market itemizing.
($1 = 0.8461 euros)
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