Unclear road ahead prevents Stagecoach forecast
By Rob Freeman | 22nd July 2020
Stagecoach said it is unable to make a profit forecast due to the ongoing impact of the coronavirus pandemic on public transport.
And the UK's largest bus and coach company, which operates throughout Gloucestershire, said talks have begun to continue government support beyond October.
Funding has helped bus operators to maintain services since March amid lower passenger numbers and will run out at the end of October without a potential 12-week extension.
Finance director Ross Paterson said: "They're not funding us to make significant profits, but there's a recognition from government that if they want certain levels of service to operate, then the costs need to be covered."
Stagecoach is running around 80 per cent of its services across the country with passenger numbers at around 40 per cent of last year's level - compared with just 10 per cent at the height of the pandemic.
Chief executive Martin Griffiths told Reuters: "Every single day we're seeing more and more people coming back to public transport."
Government guidance changed last week to enable all passengers to return.
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