ComfortDelGro expects losses for taxi division
30 Mar 2020|839 views
ComfortDelGro is extending its daily rental relief until September 2020 to help its taxi drivers affected by the prolonged COVID-19 outbreak - a move which it says will push it into the red.
ComfortDelGro said on 30 March 2020 that its cabbies are now receiving a total of $46.50 per taxi per day in rental relief - comprising $36.50 from the company and $10 from the Government's Special Relief Fund (SRF).


Hence, ComfortDelGro will match the SRF amount of $10 until September and, depending on the prevailing conditions, also extend the additional $26.50 per day relief till then.
That is, hirers can expect to receive $46.50 per taxi per day in rental relief from now until 30 September 2020, 'if the situation does not improve'. The move is expected to cost the transport giant 'as much as $80 million'.
If disbursed fully, it will effectively push its taxi division, under ComfortDelGro Taxi, into the red for the year ending 31 December 2020. If so, it would be the 'first time Singapore's largest taxi operator will post full-year losses', it said.


In addition to the rental relief extension, ComfortDelGro will also pass on all savings from the licence fee waiver and the $2,200 that is being given by the Government for each unhired taxi to cabbies through a waiver of the call levy till September.
All these are over and above the $1,000 per month that the Government is giving to self-employed persons over the next nine months.
ComfortDelGro is extending its daily rental relief until September 2020 to help its taxi drivers affected by the prolonged COVID-19 outbreak - a move which it says will push it into the red.
ComfortDelGro said on 30 March 2020 that its cabbies are now receiving a total of $46.50 per taxi per day in rental relief - comprising $36.50 from the company and $10 from the Government's Special Relief Fund (SRF).


Hence, ComfortDelGro will match the SRF amount of $10 until September and, depending on the prevailing conditions, also extend the additional $26.50 per day relief till then.
That is, hirers can expect to receive $46.50 per taxi per day in rental relief from now until 30 September 2020, 'if the situation does not improve'. The move is expected to cost the transport giant 'as much as $80 million'.
If disbursed fully, it will effectively push its taxi division, under ComfortDelGro Taxi, into the red for the year ending 31 December 2020. If so, it would be the 'first time Singapore's largest taxi operator will post full-year losses', it said.


In addition to the rental relief extension, ComfortDelGro will also pass on all savings from the licence fee waiver and the $2,200 that is being given by the Government for each unhired taxi to cabbies through a waiver of the call levy till September.
All these are over and above the $1,000 per month that the Government is giving to self-employed persons over the next nine months.
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