May 5, 2020 / 1:35 PM / a month ago

Lyft offers new cheaper rides with more waiting time

FILE PHOTO: The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid

(Reuters) - Lyft Inc (LYFT.O) said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait longer for their pick-ups, at a time when curbs against the coronavirus outbreak have brought its affordable shared services to a halt.

Under Lyft’s “Wait and Save” pilot program, which will be available across the United States and Canada, riders can pay less than the standard option and will not have to share the ride.

The ride-hailing business has suffered a near-total collapse as large parts of the U.S. remain shut and Lyft has halted its ride-sharing services in response to social distancing protocols put in place to prevent the spread of the disease.

Lyft, which operates only in the U.S. and some Canadian cities, has an active rider customer base of 22.9 million, according to its latest fourth-quarter results statement.

Reporting by Neha Malara in Bengaluru; Editing by Devika Syamnath

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