Madrid Taxi Drivers Protest Court Ruling Favoring Cabify

Madrid taxi drivers staged a major protest today in the city center against a court ruling that granted almost 8,500 new licenses to ride-hailing service Cabify. The drivers fear this will severely impact their livelihoods, creating an imbalance in the transport market. 'This decision is unfair and will flood the streets with VTC vehicles,' said one protesting taxi driver. The regional government opposes the court's decision, stating it goes against their efforts to regulate the sector and maintain a balance between traditional taxis and VTCs. The protest highlights the ongoing tensions between taxi drivers and ride-hailing companies in Madrid, and underscores the complexities of regulating the transportation industry in a rapidly changing technological landscape. The protest ended peacefully, but the drivers vowed to continue their fight for fair competition.