Axios sources say Uber (NYSE:UBER) is considering strategic alternatives for its Elevate aerial ridesharing business.

The options include strategic partnerships or a partial sale as CEO Dara Khosrowshahi continues to chase profitability.

Elevate’s Uber Copter operated a helicopter commute service in NYC but the option was suspended during the pandemic.

Earlier this month, Uber announced raising $500M in funding from Greenbriar Equity Group for the unprofitable Freight business.

In late September, Bloomberg sources said Uber investors were pushing for the company to find more investors for its self-driving unit.

The strategic alternatives are coming after the pandemic took a large bite out of Uber’s rideshare business. In August, the company reported a 67% Y/Y decline in Mobility revenue and a 75% drop in Bookings.


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