Dubai: All the numbers slotted into place for Dubai Taxi Company over the first three months of 2024 – be it the revenue or profit tallies or the number of rides on which those financials were built.
Mansoor Rahma Alfalasi, CEO of DTC, says there is more of the same sort of growth prospects coming through. “Now, these new opportunities could be within the boundaries of Dubai – or beyond that,” he added, for full measure. “It could also be through organic and inorganic ways that we pursue these chances.
“DTC has an ambitious business plan for growth, whether that’s for this year or the next 3.”
Surge pricing
In its first quarter numbers, the company also pointed to higher tariffs on its rides as coming into play. The latest one was a fare increase starting this month, which accounts for the prevailing higher fuel costs. Would this set up DTC to introduce ‘surge’ pricing methods for its fares going forward?
“Let’s be clear how these tariff increases are worked on – the RTA decides any changes to fares based on prevailing cost factors, the inflation, etc.,” said Alfalasi. “And RTA (Road and Transport Authority) bases these on a two-month framework where these costs are assessed and then the fares are changed accordingly.
“It will be the same process at work when inflationary costs come down, and fares are reduced.”
Clearly, it’s a two-way street when it comes to where taxi fares can head.
According to the CEO, “The setting of tariffs by the RTA is such that none of the operations of its business partners are affected in any way. That’s how the fare setting program has worked, and it’s been yielding results.”
Fleet size
Dubai Taxi Co. continues to add to the fleet where and when possible. It picked up quite a few number plates when the RTA had an auction recently.
Also, it doubled its fleet of taxis earmarked for airport services during the first quarter. “Clearly, there remains huge opportunities when it comes to further fleet expansion, given the number of visitors to Dubai.
“We are committed to supporting Dubai’s mobility landscape as the emirate’s urban areas continue to expand…”
12 million and counting
The company’s taxi and limousine rides turned in 12 million trips during the first quarter, which is an 8 per cent spike over same time last year. And the numbers kust keep adding up for DTC...
"Every mobility vertical we are in looks like keeping to its growth patterns, whether it's the taxis, limousines, bus services or delivery," the CEO added. "We do have the provisions to make investments to grow them further. And we will."
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