Jayride celebrates reaching its 1 million passenger trip run rate milestone and beyond
The world is happily embracing travel again, which is good news for airport transfers provider Jayride, helping it achieve its 1 million passenger trip run rate milestone.
Jayride offers travellers the opportunity to book airport transfers with ease and comfort. The ground transportation company services over 1,600 airports worldwide, ensuring worry-free journeys from the airport to your dream destination and back again.
Jayride Group (ASX:JAY) announced that the company not only achieved, but exceeded its objective of reaching a 1 million run rate for passenger trips booked in July.
In February, Jayride set out to meet that milestone and surpassed it in July with 85,100 trips booked with the company banking its largest month yet. In June 2023 Jayride boasted an increase of 75,100 bookings, up 74% compared to July 2022.
All key markets saw an upsurge of bookings for trips, including the UK, Europe, North America, Asia, and Oceania. By reaching the 1 million trip milestone, Jayride can now ensure it delivers a profitable FY24.
The European summer surge is in full swing and the ongoing demand and organic shift for travellers to book their rides online has helped boost customers on the Jayride platform.
MD Rod Bishop shared his delight in reaching the goal, commenting: “Jayride is delivering on the anticipated European summer peak season. With this momentum we have passed the next milestone in our strategy to become a much larger and profitable company. July is the first month we have ever exceeded an annualised run rate of 1 million+ passenger trips booked. We look forward to continuing our growth to create a larger, cash-flow positive Jayride in the near future.”
The quarterly results for Apr-Jun 2023 allowed Jayride to announce passenger trips grew to a record breaking number of 199,100, representing a 46% increase on pcp. Revenues soared by 42% to a total of $1.55 million, with the strong performance attributed, in large part, to the European summer peak season. These positive results align with the recent data released by the International Air Transport Association in May 2023, indicating a sustained surge in air travel demand, almost reaching the levels observed in May 2019 before the Covid-19 pandemic. Moreover, during the same quarter, the net revenue per trip showed a promising upswing, rising to $7.77 from $7.57 in the previous quarter.
For a full listing of airport locations and to make an airport transfer booking to ensure your first and last moments in a destination count, visit Jayride.com or download the app.
