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Airbnb joins Western corporate shutdowns in Russia -Breaking

by Mike Robinson

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

(Reuters). -Thursday saw Airbnb Inc, a home rental company, cease operations in Russia due to Western sanctions against Moscow’s invading Ukraine.

Brian Chesky, the chief executive officer of his company, tweeted about the suspension. His company is now aligned with major Western companies like General Motors Co (NYSE :), Boeing (NYSE 🙂 Co and Alphabet Inc (NASDAQ 🙂 Google.

Chesky stated that “people are booking Airbnbs Ukraine they don’t intend to stay at just to help hosts,” and noted how some foreigners have been able to provide financial support for Ukrainians.

Airbnb, which has been recovering from a prolonged pandemic-induced downturn, is expecting bumper first-quarter numbers due to high demand in America and guests staying longer.

The company did not respond immediately to an inquiry for more information about the suspensions in Russia, Belarus and China. Airbnb is the second largest market in Europe, Africa and Middle East after North America.

The shares of the company that rents short-term homes were 1.4% lower before the bell.

Airbnb announced Monday that its non-profit arm will offer temporary, free housing to up 100,000 Ukrainian refugees fleeing Ukraine.

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