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LYFT INC

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LYFT : MTS attempts to spur ridership with Lyft discounts to and from transit stations

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05/30/2019 | 10:11am EDT

May 30-- May 30--A new agreement between the San Diego Metropolitan Transit System and Lyft is offering people discounts on ride-sharing to and from transit stations every Tuesday this summer, such as Old Town Transit Center, Barrio Logan Trolley Station, 25th and Commercial Trolley Station and dozens more.

The first 500 riders to use the code TRANSITTUESDAY will get 25 percent off their Lyft ride. The deal is capped at twice a day and at $3 a ride. It runs from June 4 to Aug. 27. For more information and a list of qualifying transit stations visit sdmts.com.

The program is aimed at boosting bus and trolley ridership at a time when transit ridership has been on the rocks throughout the San Diego region and nationally.

Howwever, MTS officials boasted in February that public transit ridership in its service area had climbed for seven straight months, most noticeably among trolley users. MTS officials called the trend "highly encouraging." Recent overhauls to bus routes have also helped drive a recent uptick in those taking transit, officials said.

Spurred by statewide policies to fight climate change, the agency is now doubling down on its mission to get people into cleaner transportation. Earlier this year, MTS announced it was going to call for a half-cent sales tax increase in November 2020 to essentially double its current $300 million annual budget and dramatically expand service.

Recently, MTS chief Paul Jablonski told the Union-Tribune that the agency is looking at proposing a beefed-up bus system, longer and more frequent trolley service and perhaps a ferry system that would that would operate in San Diego Bay between Chula Vista, Coronado and San Diego International Airport.

Officials have started holding a series of public meetings, community forums and other events to get input on what types of projects voters would like to see in the MTS ballot proposal.

At the same time, the San Diego Association of Governments is gearing up for its own tax increase to build a high-speed rail system similar to the Bay Area Rapid Transit, or BART, system that serves San Francisco, two airports and surrounding cities.

___

(c)2019 The San Diego Union-Tribune

Visit The San Diego Union-Tribune at www.sandiegouniontribune.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials (USD)
Sales 2019 3 502 M
EBIT 2019 -995 M
Net income 2019 -2 747 M
Finance 2019 2 569 M
Yield 2019 -
P/E ratio 2019 -4,18x
P/E ratio 2020 -8,87x
EV / Sales2019 3,37x
EV / Sales2020 2,81x
Capitalization 14 380 M
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