Positive outlook as Jayride positions to capitalise on 2H FY23 including US and Europe summer peak season, continued Asian market reopening, and optimisations to grow net revenue per trip.
Jayride Group Limited, leading online travel marketplace for airport transfers has completed its acquisition of the AirportShuttles.com assets, completed its booking system integration, and has subsequently recieved its first booking.
Jayride Group co-founder and Managing Director, Rod Bishop said: “We are very pleased to have completed the acquisition of the AirportShuttles.com assets, and also to have efficiently completed our integration and received our first bookings ahead of the Northern Hemisphere summer peak season.
“The integration and testing were efficiently completed due to our famiilarity with the AirportShuttles.com website, having previously been the exclusive supplier to the website.
“The assets we have acquired are a compelling fit with our growth strategy to build the world’s leader in rides for travellers. The traffic to the AirportShuttles.com website enhances the scale of our group, particularly in the United States, and accelerates our path to cash flow positive.”
Completion of the AirportShuttles.com acquisiton follows Jayride’s earlier release of its Q2 FY23 (quarter ended 31 December 2022) results which included:
- Contribution profit growing to A$559k in Q2 FY23 up 234% vs Q2 FY22
- Net revenues growing to A$1.13 million on Q2 FY23 up 186% vs Q2 FY22
- Passenger trips booked of 153K in Q2 FY23, a record high, up 198% vs Q2 FY22,
- Cash receipts from customers grew to A$901k in Q2 FY23; up 137% vs Q2 FY22
Positive outlook as Jayride positions to capitalise on 2H FY23 including US and Europe summer peak season, continued Asian market reopening, and optimisations to grow net revenue per trip.
Commenting on the release of those results, Rod Bishop said: “1H FY23 shows triple digit growth in trips, revenues and contribution profits vs prior corresponding period, a solid result across the Northern Hemisphere winter low season. We are now sharply focused on delivery of our strategies to capture Northern Hemisphere summer peak, Asia’s reopening, to accelerate our path to cash flow positive, and become the world leader in rides for travelers.
“In Q2, and into Q3, we are running a slightly elevated level of investment to complete key initiatives ahead of Q4’s Northern Hemisphere summer peak season, plus deliver initiatives that grow yield to bring our new Asian destination economics inline with group averages. We have a confident outlook and expect attractive returns on these investments as we move towards $10 net revenue per trip and 1 million passenger trips booked.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
