Uber will no longer operate in the United Kingdom’s capital city. Earlier today, London’s transit operator declined the company’s license to operate in the city. The transit operator argued that the ride sharing giant had experienced “several breaches that placed passengers and their safety at risk.” Furthermore, the operator stated they do “not have confidence that similar issues will not reoccur in the future.” They also went as far as to deem the company “not fit and proper at this time” to work within the city of London.
In response, Uber called the decision “extraordinary and wrong.” The company will have three weeks to appeal the decision if they so choose.
Uber’s Regional General Manager for Northern and Eastern Europe Jamie Heywood stated, “We have fundamentally changed our business over the last two years and are setting the standard on safety.”
This the first time the ride-sharing company has experienced a loss in operation in a major city such as London. Meanwhile, The Hollywood Reporter reports that shares were down almost 6% in pre-market trading in New York. If this decision is upheld, it could have a major impact on the company’s future in other markets.