Home News Airbnb joins Western corporate shutdowns in Russia By Reuters

Airbnb joins Western corporate shutdowns in Russia By Reuters

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Airbnb joins Western corporate shutdowns in Russia By Reuters

© Reuters. In this illustration taken on February 27, 2022, the Airbnb app appears on a smartphone. REUTERS/Dado Ruvic/Illustration

(Reuters) – Home-rental company Airbnb Inc became the latest major global company to stop operating in Russia on Thursday as Western sanctions slapped Moscow over its invasion of Ukraine.

CEO Brian Chesky tweeted the suspension, which also included Russia ally Belarus. It puts his company in line with other major Western companies, including General Motors Co (NYSE: ), Boeing (NYSE: ) Co and Alphabet’s (NASDAQ: ) Inc’s Google.

“People book Airbnb in Ukraine, and they’re not going to stay and help hosts,” Chesky added, noting that some outsiders have found a way to provide Ukrainians with financial support.

Airbnb, which is recovering from a pandemic-induced slump, is forecasting a solid first-quarter performance due to strong demand in the U.S. and guests staying longer.

It did not immediately respond to a request for more details on the Russian and Belarusian suspensions. EMEA is Airbnb’s second-largest market after North America.

Shares of the short-term home rental company were down 1.4% before the open.

Airbnb said Monday that its nonprofit arm will provide free temporary housing for up to 100,000 refugees fleeing Ukraine.

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