(Bloomberg) -- ComfortDelGro Corp. said it will waive rentals for its cab drivers for about a month as a closure of schools and most workplaces in Singapore hurt their incomes.
Taxi rentals will be waived from April 7 to May 5, the company said in a statement on Saturday. The government announced tighter social distancing measures on Friday to curb the virus's spread.
The waivers are expected to cost the company S$19 million ($13.2 million) in addition to its previously announced relief plan, and will push it “further into the red,” it said. The total relief packages are expected to cost ComfortDelGro as much as S$99 million.
Chief Executive Officer Ang Wei Neng said the waiver will allow ride fares to “go straight into” the pockets of the drivers that are facing difficulties due to the outbreak. “We hope that this will help them tide over this incredibly difficult period.”
Read more: Singapore to Close Schools, Most Workplaces as Virus Spreads
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