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Investing.com -- Uber Technologies Inc (NYSE:UBER) stock fell 1.25% and Lyft Inc (NASDAQ:LYFT) shares dropped 2.5% on Tuesday after Waymo secured permission to begin autonomous vehicle operations at San Francisco International Airport (SFO).
The San Francisco mayor’s office announced that SFO has signed a Testing and Operations Pilot Permit with Waymo, allowing the Alphabet Inc (NASDAQ:GOOGL) subsidiary to commence a phased rollout of autonomous vehicle services at the airport. This development potentially threatens the ride-hailing companies’ airport business, which represents a significant revenue source.
Waymo’s operations will be implemented in three phases, beginning with testing autonomous vehicles with a human driver present, followed by driverless testing with Waymo and airport employees as passengers, and eventually launching commercial operations for paying customers.
"The approval of this permit with Waymo provides passengers with a new and innovative option that delivers the dependability and ease travelers expect when coming through SFO," said SFO Director Mike Nakornkhet in the announcement.
This airport permit follows Mayor Daniel Lurie’s March decision allowing Waymo to conduct digital mapping of airport roadways. Last month, the mayor also announced expanded operations for Waymo, Uber Black, and Lyft Black on Market Street as part of efforts to revitalize the corridor.
The pilot permit includes safety protocols and data reporting requirements that Waymo must follow to ensure reliable service for trips to and from the airport.
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