Latest news with #MansoorAlfalasi
Arabian Business
08-05-2025
- Business
- Arabian Business
Dubai Taxi Company reports $160mn Q1 revenue amid fleet expansion
Dubai Taxi Company PJSC (DTC) reported revenue of AED588.3 million for the first quarter of 2025, marking a 5 per cent increase year-on-year, according to financial results released today. The company completed 13 million trips across its taxi and limousine segments during Q1, representing an 8 per cent growth compared to the same period last year. DTC's revenue growth was primarily driven by fleet expansion and strong performance in its taxi and delivery bike operations. Dubai Taxi Fleet expansion drives 8% trip growth in Q1 2025 results On a like-for-like basis, excluding the Connectech subsidiary which includes Bolt e-hailing operations, revenue increased by 7 per cent. Despite revenue growth, EBITDA declined by 9 per cent to AED154 million, while net profit decreased by 23 per cent to AED84 million. The company attributed this decline primarily to promotional discounts offered as part of Bolt's launch campaign. On a like-for-like basis, EBITDA grew by 4 per cent, while net profit saw a modest decline of 2 per cent. DTC CEO Mansoor Rahma Alfalasi said: 'DTC delivered a solid start to the year, with strong growth across our core taxi and delivery bike segments reflecting the sustained momentum in Dubai's mobility landscape. The expansion of our fleet and continued investment in operational efficiency enabled us to serve rising demand, driven by the city's ongoing population and tourism growth.' During the quarter, DTC added 250 fully electric taxis, bringing its total operational fleet to more than 6,200 vehicles. The company noted that over 86 per cent of its fleet now consists of hybrid or electric vehicles, aligning with the Dubai 2040 Urban Master Plan. 'We remain confident in the fundamentals of our business, supported by a healthy balance sheet and a scalable platform positioned for growth,' Alfalasi added. 'Looking ahead, we will continue to optimise our operations, enhance customer experiences, and capture opportunities across Dubai's rapidly evolving mobility ecosystem.' Dubai Taxi Company signs five-year partnership with Dubai Airports DTC also announced a five-year strategic partnership with Dubai Airports to be the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central – Al Maktoum International (DWC). The partnership is expected to generate revenues of AED2.5 billion over the five-year period, with taxi and limousine annual trips from the airports projected to reach over 8 million by 2029. The company's partnership with Bolt completed its first full quarter of operations, with the Bolt app recording 279,000 downloads and 267 fleet partners onboarded with 14,600 cars registered on the platform. Shareholders approved a final dividend of AED122.3 million for the second half of 2024, representing 4.89 fils per share, which was distributed in April 2025. DTC maintains a healthy balance sheet with a net debt-to-EBITDA ratio of 1.2x and a cash balance of AED287 million as of March 31, 2025.
The National
02-04-2025
- Automotive
- The National
Uber and WeRide team up with RTA to bring self-driving taxis to Dubai's roads
Ride-hailing companies Uber Technologies and WeRide have teamed up with Dubai's Roads and Transport Authority to bring self-driving taxis to the emirate's roads. San Francisco-based Uber and the RTA will launch pilot programmes, ensure safety protocols and regulatory frameworks, and explore data insight, Uber and WeRide said in a joint statement on Wednesday. WeRide, based in Guangzhou, China, became the first autonomous vehicle (AV) provider to secure a national licence from the UAE for self-driving vehicles on public roads, in July 2023. Dubai will become the second city in the Middle East to have WeRide's robotaxis on its roads after the company joined forces with Uber to launch a commercial driverless mobility service in Abu Dhabi in December. Further details, including target dates for AV introduction in Dubai, will be announced at a later date, the statement said. 'This partnership … represents a crucial step in advancing Dubai's Self-Driving Transport Strategy, which aims to transform 25 per cent of all journeys in the city into autonomous trips across various transport modes by 2030,' said Mattar Al Tayer, director general and board chairman of the RTA. The UAE aims to become a leader in smart mobility systems to boost sustainability. Dubai began supervised testing of driverless vehicles on its roads in October 2023 after the US self-driving tech company Cruise, which is backed by General Motors and Honda Motor, was issued with a trial permit. Dubai Taxi Company, which partnered with European mobility company Bolt to launch ride-hailing services, plans to launch its first autonomous taxi service in the emirate by the first quarter of 2026, its chief executive Mansoor Alfalasi told The National in February. The emirate is 'a natural step forward' for WeRide's strategy of advancing mobility in the wider Middle East region, the company's chief financial officer, Jennifer Li, said. Abu Dhabi already has its own fleet of driverless taxis on Yas Island, run by TXAI, the UAE's first driverless taxi service. In addition, electric air taxis are expected to begin operating in Dubai during the first quarter of 2026, the RTA confirmed in September. Manufacturers of self-driving vehicles continue to improve their capabilities and safety, which is expanding the market. The industry's market size is projected to hit more than $2.2 trillion by 2030, from an estimated $287.6 billion in 2024, at a compound annual growth rate of nearly 34 per cent, data from Next Move Strategy Consulting shows. In the UAE alone, the ride-hailing market is projected to post a 'significant' rise in revenue, to reach nearly $204 million in 2025, a study from Statista Market Insights shows. Uber is 'working with the world's leading autonomous vehicle developers to help commercialise and deploy this technology at scale around the world', said the company's head of autonomous mobility, Noah Zych. Uber is considered the pioneer of ride-hailing services and operates in 70 countries. In 2019, the company acquired Dubai's Careem in a $3.1 billion deal, and has expanded into food delivery and freight. WeRide, which is present in 10 countries, provides driving products and services that comply to autonomous levels two to four, the latter of which would need no human driver in most circumstances. It says it is the only company to hold driverless permits in China, France, Singapore, the UAE and the US.
Gulf Today
27-02-2025
- Business
- Gulf Today
DTC, Dubai Airports sign 5-year deal for growing tourist demand
Dubai Taxi Company (DTC) has signed a five-year strategic partnership with Dubai Airports, to be the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC), reinforcing its position as the leading provider of premium mobility services in Dubai. The partnership is a testament to the long-standing relationship between DTC and Dubai Airports to service the growing influx of passengers and visitors at Dubai Airports, which welcomed 93 million guests across both airports in 2024, resulting in 6 million limousine and taxi trips in 2024. Taxi and limousine annual trips from the airports are expected to reach over 8 million by 2029, with revenues projected to reach Dhs2.5 billion over the five-year period. DTC's long-standing partnership with Dubai Airports began in 1997 when the Company provided taxi services at the airport with a modest fleet of just 100 taxis. Subsequently, DTC has grown into a leading mobility provider, and the number one taxi operator, by market share, in Dubai. Today, DTC proudly operates a state-of-the-art airport fleet of approximately 900 taxis, including 700 dedicated airport taxis, in addition to specialized pink taxis catering to families, women, and children, as well as accessible vehicles designed to serve People of Determination. The Company's fleet also features around 500 premium limousines, providing premium transportation services. Mansoor Alfalasi, CEO of Dubai Taxi Company and Paul Griffiths, CEO of Dubai Airports signed the agreement in the presence of senior officials. Smart Transportation Services As part of its commitment to innovation and adherence to the highest international standards, the taxi and limousine services at Dubai Airports are equipped with smart dispatch systems and advanced instant booking technologies accessible through user friendly apps. These systems allow passengers to easily and quickly book taxis and provide cashless payment options. The vehicles are monitored by DTC's control centre, ensuring safe, efficient, and timely transportation for all customers. Mansoor Alfalasi, CEO of DTC, said: 'The agreement demonstrates the strength of our relationship with Dubai Airports, which began in 1997. As the exclusive provider of taxi services at Dubai's airports for more than two decades, we are committed to showcasing Dubai at its best to all passengers.' 'With a team of well-trained drivers backed by sophisticated technology, DTC is committed to enhancing its operational capacity to align with the rapid growth and development at Dubai Airports, ensuring the continued delivery of world-class transportation services.', he added In 2024, DTC doubled its dedicated taxi fleet at Dubai Airports. This expansion aimed to support airport transportation services and boost trip numbers by 30%, helping reduce waiting times and improve service speed, while reducing the reliance on having to divert our regular city fleet towards the airport. Paul Griffiths, CEO of Dubai Airports said, 'Our goal at Dubai Airports is to create an effortless and seamless experience for every guest, from the moment they arrive at our airports to the moment they depart. Reliable, efficient, and well-integrated ground transport is a crucial part of that equation. This partnership with Dubai Taxi Company ensures that guests at DXB and DWC experience world-class mobility solutions from the road to the air, reflecting the speed, convenience, and service excellence we uphold across the entire airport journey.' DTC is dedicated to enhancing the travel experience for tourists and visitors by providing seamless, world-class transportation services that adhere to global best practices. This commitment ensures a superior journey while contributing to a memorable stay in Dubai. The exclusivity of these services supports the objectives of the Dubai Economic Agenda D33, further strengthening Dubai's position as a premier global hub for business and tourism. The Company attaches utmost attention to building strong strategic partnerships and providing innovative, sustainable mobility solutions that reflect the community's aspirations and Dubai's future vision. This is part of DTC's new strategy for 2025-2029, which is set to solidify its leadership and reinforce its position as the largest taxi operator in the emirate and a regional leader in the transportation sector. Dubai Taxi Company (DTC) has transitioned into a public shareholding company under Law No. 21 of 2023. As a leading provider of comprehensive mobility solutions in Dubai, DTC operates a fleet of over 9,000 vehicles, including approximately 6,000 taxis and 18,000 drivers. Founded in 1994, DTC initially focused on taxi operations but has since expanded to offer a diverse range of integrated mobility solutions across four primary business lines: taxis, VIP limousines, buses, and delivery services via delivery bikes.
Trade Arabia
25-02-2025
- Business
- Trade Arabia
Dubai Taxi Company, Dubai Airports sign exclusive 5-year partnership
Dubai Taxi Company (DTC) has signed a five-year strategic partnership with Dubai Airports, to be the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC). The partnership is a testament to the long-standing relationship between DTC and Dubai Airports to service the growing influx of passengers and visitors at Dubai Airports, which welcomed 93 million guests across both airports in 2024, resulting in 6 million limousine and taxi trips in 2024. Taxi and limousine annual trips from the airports are expected to reach over 8 million by 2029, with revenues projected to reach AED2.5 billion over the five-year period. DTC's long-standing partnership with Dubai Airports began in 1997 when the company provided taxi services at the airport with a modest fleet of just 100 taxis. Subsequently, DTC has grown into a leading mobility provider, and the number one taxi operator, by market share, in Dubai. Today, DTC operates a state-of-the-art airport fleet of approximately 900 taxis, including 700 dedicated airport taxis, in addition to specialised pink taxis catering to families, women, and children, as well as accessible vehicles designed to serve People of Determination. The company's fleet also features around 500 premium limousines, providing premium transportation services. Mansoor Alfalasi, CEO of Dubai Taxi Company, and Paul Griffiths, CEO of Dubai Airports signed the agreement in the presence of senior officials. Smart Transportation Services As part of its commitment to innovation and adherence to the highest international standards, the taxi and limousine services at Dubai Airports are equipped with smart dispatch systems and advanced instant booking technologies accessible through user friendly apps. These systems allow passengers to easily and quickly book taxis and provide cashless payment options. The vehicles are monitored by DTC's control centre, ensuring safe, efficient, and timely transportation for all customers. Alfalasi said: 'The agreement demonstrates the strength of our relationship with Dubai Airports, which began in 1997. As the exclusive provider of taxi services at Dubai's airports for more than two decades, we are committed to showcasing Dubai at its best to all passengers. 'With a team of well-trained drivers backed by sophisticated technology, DTC is committed to enhancing its operational capacity to align with the rapid growth and development at Dubai Airports, ensuring the continued delivery of world-class transportation services.', he added. In 2024, DTC doubled its dedicated taxi fleet at Dubai Airports. This expansion aimed to support airport transportation services and boost trip numbers by 30%, helping reduce waiting times and improve service speed, while reducing the reliance on having to divert our regular city fleet towards the airport, the company said. Griffiths said: 'Our goal at Dubai Airports is to create an effortless and seamless experience for every guest, from the moment they arrive at our airports to the moment they depart. Reliable, efficient, and well-integrated ground transport is a crucial part of that equation. This partnership with Dubai Taxi Company ensures that guests at DXB and DWC experience world-class mobility solutions from the road to the air, reflecting the speed, convenience, and service excellence we uphold across the entire airport journey.' -
Hi Dubai
25-02-2025
- Business
- Hi Dubai
Dubai Taxi Company Secures Exclusive Five-Year Partnership with Dubai Airports
Dubai Taxi Company (DTC) has signed a five-year strategic partnership with Dubai Airports, cementing its position as the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC). This agreement underscores DTC's leadership in Dubai's mobility sector, ensuring seamless airport transportation for millions of passengers. The collaboration aims to accommodate the growing number of travelers, with Dubai Airports welcoming 93 million guests in 2024. This surge resulted in six million taxi and limousine trips, a number projected to exceed eight million annually by 2029. Over the five-year period, the partnership is expected to generate AED 2.5 billion in revenue. DTC's association with Dubai Airports dates back to 1997 when it operated with just 100 taxis. Today, the company runs a modern airport fleet of 900 taxis, including 700 dedicated airport taxis, specialized pink taxis for women and families, and accessible vehicles for People of Determination. Additionally, DTC operates 500 premium limousines to enhance travel convenience. The agreement was signed by Mansoor Alfalasi, CEO of Dubai Taxi Company, and Paul Griffiths, CEO of Dubai Airports, in the presence of senior officials. Smart Transportation Services In line with Dubai's smart mobility vision, DTC's taxi and limousine services are equipped with advanced dispatch systems and instant booking technologies accessible through user-friendly apps. These innovations ensure faster service, cashless payment options, and real-time fleet monitoring for safety and efficiency. DTC has doubled its airport taxi fleet in 2024, increasing trips by 30% and reducing wait times while maintaining service excellence. The initiative aligns with the Dubai Economic Agenda D33, reinforcing Dubai's status as a global business and tourism hub. Paul Griffiths emphasized that efficient ground transport is integral to a seamless airport experience. The partnership with DTC ensures world-class mobility solutions, reflecting Dubai's commitment to convenience and service excellence. DTC continues to expand its strategic partnerships and sustainable mobility solutions, solidifying its leadership in Dubai's transportation sector and setting new benchmarks in airport mobility services. News Source: Dubai Media Office
