Lyft CEO touts success of airport ‘on-time pickup promise’ for riders

Lyft CEO David Risher touted his company's new "on-time pickup promise" program in an interview with CNBC's Jim Cramer on Thursday.
The program will give riders Lyft cash if the driver is more than ten minutes late to pick them up for a scheduled trip to the airport.
Risher said over the past few weeks, Lyft transported 2.5 million riders to the airport and only had to reimburse 72 rides for late pick-ups.

Lyft CEO David Risher told CNBC's Jim Cramer on Thursday said he's bullish on the company's "on-time pickup promise" program, which was launched before the busy holiday travel season.

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"Everyone is stressed during holidays, and the holidays should be so great — they're a time of getting together with your family — but man, what time am I getting to the airport? Is a car going to pick me up?" Risher said. "We guarantee we're going to pick you up. If we are more than ten minutes late, we will pay you up to $100 in Lyft cash."

Risher said over the past few weeks, Lyft has given 2.5 million rides to the airport and only had to reimburse 72 rides for late pick-ups.

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Lyft has struggled in the ride-share space since its 2019 initial public offering, with competitor Uber pulling ahead in terms of market share and market capitalization. Risher reported steady improvement at the company since he took the reigns in April, with ride growth up 20% in the most recent quarter.

Risher also said employee satisfaction levels at the company are the highest in four years after hitting a historic low when he began his tenure.

"We just saw the results, just yesterday, of our most recent [employee satisfaction survey]," he said. "What that tells you is that the thousands and thousands – 3000 plus team members who work for Lyft – are starting to believe. They believe in our purpose, they believe in our execution."