By Alexander Cornwell
DUBAI (Reuters) – Uber’s Middle East business Careem is seeing a slowdown in the recovery of its ride-hailing business due to a new wave of COVID-19 infections, and tentatively forecast business would return to pre-pandemic levels by the end of the year.
The comments represented a more pessimistic outlook from Careem, which said last September it expected its ride service to recover before the end of 2021.
Careem Chief Executive Mudassir Sheikha, giving the year-end forecast for a full recovery, cautioned that circumstances could change.
“That is something that we still think will happen but as you can imagine, it is a pretty volatile situation so we’re just monitoring it closely,” he told Reuters.
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