YEREVAN, Oct 28 (PRIME) -- Armenia’s State Commission for the Protection of Economic Competition has decided to strictly warn Yandex.Taxi, an online taxi hailing service of Russian Internet company Yandex, accusing it of breaches on the local market, a spokesperson for the authority said on Friday.
The commission investigated the market following complaints from drivers and mass media reports.
“It was revealed that Yandex.Taxi had been working at a loss for several months, but paid premiums to taxi drivers-partners at U.S. $0.8 per each trip. In such a way, a driver almost doubled his daily revenue of $6-8 from Yandex.Taxi,” the spokesperson said.
The authority interpreted the company’s behavior as unfair competition, aimed at squeezing taxi services out of the market.
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