Uber awaits fate with London licence set to expire in just days
Uber will find out at the start of next week if Transport for London (TfL) will grant it a new licence to operate in the capital.
The ride-hailing company’s current licence is set to expire on Tuesday after TfL granted it a two-month permit in September following the expiration of probationary licence.
Read more: Uber launches new safety measures in bid for long-term London licence
If a new long-term licence is issued then it will offer some certainty to the company and its 45,000 drivers based in London for the first time in years.
Uber was brought into disrepute in 2017 with TfL concluding that it was not “fit and proper” to hold a licence.
The firm also faced a number of lawsuits in the UK and lost one regarding drivers’ employment rights.
London mayor Sadiq Khan defended the regulator’s decision because “providing an innovative service must not be at the expense of customer safety and security.”
Chief executive Dara Khosrowshahi has made a number of changes since, including the implementation of mandatory breaks and insurance packages to cover lost earnings through illness or injury.
Rivals such as Bolt, Ola and ViaVan have all been granted licences to operate in London, suggesting that Uber could receive a new-long term licence as TfL increase competition in the market.
Uber previously held a five-year private-hire permit but were given a 15-month probationary version in June 2018.
Read more: Uber is behind a sharp rise in London’s air pollution
The company listed on the US stock market in May and was the country’s biggest IPO in 2019.
However shares are now down almost 40 per cent amid investor concerns over mounting losses and lawsuits in Europe pertaining to workers’ rights.
Uber declined to comment, while TfL is yet to respond to a request for comment.