UBER Uber Technologies Inc

By Preetika Rana

Uber Technologies Inc. Chief Executive Dara Khosrowshahi said rides to and from airports, which account for about 15% of the company's rides bookings, have slowed because fewer people are traveling amid the coronavirus epidemic.

"Our airports business has slowed down a little bit relative to the balance of the business overall," Mr. Khosrowshahi said Wednesday at a Morgan Stanley conference in San Francisco. But "it's nothing we can't adjust to," he added, without giving specifics.

Mr. Khosrowshahi said the markets hardest hit by the virus, such as China, South Korea and Iran, account for 1% of the company's global bookings, so "it's not material for the company overall."

He acknowledged, though, that Uber's rides business "will take a hit" if "people stop leaving the house" in other markets where it has a stronghold. In that scenario, "Eats will probably actually be benefited," he said, referring to the company's food-delivery unit.

Uber has also warned that shutdowns in China could disrupt the dockless bikes and e-scooters supply chain. "We depend on a limited number of suppliers for our dockless e-bikes, and on a single supplier for our e-scooters that also supplies our primary competitors," the company noted in its 2019 annual report this week. "It is possible that we may not be able to obtain a sufficient supply of dockless e-bikes and e-scooters in a timely manner, or at all."

Write to Preetika Rana at preetika.rana@wsj.com

(END) Dow Jones Newswires

March 04, 2020 17:50 ET (22:50 GMT)

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