Thursday, January 05, 2017

MINICAB Company Addison Lee To Take Over US Rival Flyte Tyme In Battle With Uber.

Addison Lee has bought US rival Flyte Tyme to try to keep pace with Uber.

The private equity-owned minicab company said the move would bolster global sales to nearly £400m and cement its position as one of the world’s biggest private hire operator.

Flyte Tyme is based in New Jersey and has a turnover of £53m, with 525 staff and 375 drivers.

The move comes after Addison Lee boosted its global footprint in June last year by buying Tristar Worldwide, which has operations in 80 countries.

The global market has undergone a radical shake-up following the rise of Uber’s smartphone app, which has driven down minicab fares, but come under fire from traditional taxi drivers.

Andy Boland, chief executive of Addison Lee, said the Flyte Tyme deal was an important moment for the private hire industry. 

The tie-up will hand Addison Lee – which is owned by US private equity firm The Carlyle Group – a US fleet of 17,400 cars through 'affiliate partners'. 

They hope it will boost annual US revenues to more than £82m per year.


Editorial said...

This article appeared in the daily mail with the title
Taxi company Addison Lee
TfLTPH said recently that the word Taxi was generic and that any company that takes customers for hire and reward can all themselves a taxi company, even though the Private Hire Vehicles act says different

Addison Lee are in fact only licensed as a PH operator. They do not have a Licensed Taxi licence and therefore should not be referred to as a Taxi company

Again all our representative orgs have sat back and watched this happen without objecting

This is deregulation by stealth
Addison Lee are now and always have been a MINICAB COMPANY.

Every time you refer to them please give them their full title


Anonymous said...

If they can use the word taxi if they are carrying passengers for hire and reward; it means they can legally use the bus lanes which say busses, taxi and cycles!

Anonymous said...

They are called a scabs

Anonymous said...

It seems none of the media know the difference. The other week the BBC did a piece on the gig economy when they interviewed a driver from the "Uber taxi" company. Of course they cherry picked a white British man who spoke English, wore a suit & tie and drove a Mercedes. Funny that.