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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Scentre Group    SCG   AU000000SCG8

SCENTRE GROUP

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Uber picks Melbourne as test site for flying taxi service

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06/11/2019 | 08:42pm EDT
A screen displays the company logo for Uber Technologies Inc. on the day of it's IPO at the NYSE in New York

SYDNEY (Reuters) - Uber Technologies said it will use Australia's second-largest city, Melbourne, as the first international test site for the group's planned flying taxi service.

The U.S. ride sharing firm had previously chosen Dubai as the first test site outside the United States for its UberAIR service but reopened its request for proposals last month after launch delays in the Middle Eastern city.

Uber said on Tuesday it will begin test flights of the pilotless aircraft in Melbourne and U.S. cities Dallas and Los Angles in 2020 before commercial operations begin in 2023.

"Australian governments have adopted a forward-looking approach to ridesharing and future transport technology," Susan Anderson, Regional General Manager for Uber in Australia, New Zealand and North Asia, said in an emailed statement.

"This, coupled with Melbourne's unique demographic and geospatial factors, and culture of innovation and technology, makes Melbourne the perfect third launch city for UberAir."

The test flights will transport passengers from one of seven Westfield shopping centers in Melbourne to the city's main international airport. The 19km journey from the central business district to the airport is expected to take 10 minutes by air, compared with the 25 minutes it usually takes by car.

The electric, on-demand air taxis can be ordered by customers through smartphone apps in the same way Uber's road-based taxi alternatives are hailed.

Uber's planned air fleet includes electric jet-powered vehicles - part helicopter, part drone and part fixed-wing aircraft - running multiple small rotors capable of both vertical take-off and landing and rapid horizontal flight.

(Reporting by Colin Packham; Editing by Sam Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
SCENTRE GROUP -0.53% 3.76 End-of-day quote.-3.59%
TELSTRA CORPORATION LTD 0.78% 3.87 End-of-day quote.35.79%
UBER TECHNOLOGIES INC -2.44% 43.23 Delayed Quote.0.00%
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Financials (AUD)
Sales 2019 2 540 M
EBIT 2019 2 018 M
Net income 2019 1 425 M
Debt 2019 14 243 M
Yield 2019 5,92%
P/E ratio 2019 14,43
P/E ratio 2020 13,91
EV / Sales 2019 13,6x
EV / Sales 2020 13,4x
Capitalization 20 417 M
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