- Transport comparison business Jayride (JAY) spiked on the ASX today as a recovering global travel sector sends the company's booking numbers up
- Passenger trips booked through the Jayride platform increased by 69 per cent over the March 2021 quarter compared to the quarter before
- In fact, over the month of March alone, trips grew by 127 per cent compared to February
- This growth was largely driven by the North American market as Americans begin to travel once more to regional destinations like Florida, Mexico and the Dominican Republic
- Jayride Managing Director Rod Bishop says the company is encouraged by the rebound in trips as vaccination programs gather pace
- Jayride offers comparisons between airport shuttle, shuttle bus and private transfer companies to get people from homes and hotels to airports
- Shares in Jayride closed 44 per cent higher this afternoon at 24 cents each
Transport comparison business Jayride (JAY) spiked on the ASX today as a recovering global travel sector sends the company's booking numbers up.
The company said passenger trips booked grew by a neat 69 per cent over the March quarter of 2021 compared to the quarter before.
Over the March quarter, Jayride booked around 26,000 trips — still a far cry below the 108,000 trips booked in the same quarter of 2020 before the pandemic struck, but well above the 15,000 trips booked in the December 2020 quarter.
Nevertheless, over the month of March 2021 alone, Jayride booked 14,100 trips — 127 per cent more trips than February's 6200.
This bodes well for the company as travel begins to return after a year of closed borders and self-isolation mandates.
Jayride Managing Director Rod Bishop said the growth is being largely driven by the North American market as U.S. residents begin to travel once more to regional destinations like Florida, Mexico and the Dominican Republic.
"We are encouraged by the rebound in trips coming through as vaccination programs gather pace," Rod said.
"The global travel recovery has step-changed in March. Trips in March (and April to date) are significantly higher than prior months," he said.
Jayride gives travellers comparisons between companies offering rides and shuttles to airports. Once a consumer has booked their trip, they can enter their details on the Jayride website and find the cheapest mode of travel for them to get to their local airport.
Travellers can see reviews, prices and star rating for airport shuttle, bus and private transfer companies and then book the trip through the Jayride platform.
It's been a strong week for travel stocks all around as Australia and New Zealand gear up for a travel bubble between the countries from April 18. Travel bubbles between other nations — like Australia and Singapore — are also on the cards for winter as vaccines roll out and countries begin to reign COVID-19 under control.
Shares in Jayride closed 44.12 per cent higher today at 24 cents each. The company has a $30 million market cap.