Uber Bumps Up Base Fares In London To Bring Back Drivers

Uber Technologies UBER bumped up base fares in London by 10% to attract more drivers, Bloomberg reports.
Customers traveling from Heathrow, Gatwick, Luton, and Stansted airports will face an additional 15% hike in fares at peak times.
Uber requires 20,000 more drivers to return to normal service levels.
Some drivers switched from Uber to rapidly growing delivery businesses or rivals as the pandemic restricted the travel demand.
Uber had to offer drivers more benefits after the U.K. Supreme Court ruled the firm should recognize a group of them as “workers.”
Customers rebuked the ride-hailing provider on social media against longer waiting times and higher fares during peak hours as more workers opted to avoid public transit during the pandemic.
Price Action: UBER shares traded higher by 0.78% at $43.72 in the premarket session on the last check Thursday.