Skip navigation

Gloucestershire Business News

Unclear road ahead prevents Stagecoach forecast

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.

Related Articles

VIDEO: Last piece of Gloucester Quays for sale Image

VIDEO: Last piece of Gloucester Quays for sale

Gloucester-based Numold is to sell its canalside property in the middle of Gloucester Quays after 30 years.

GE Aerospace sees orders and profits soar Image

GE Aerospace sees orders and profits soar

GE Aerospace has raised its full-year profit guidance after releasing its first quarter financial results.

Auction: 11 retail units for sale in Cheltenham Image

Auction: 11 retail units for sale in Cheltenham

Winchcombe Street shops go under the hammer.

Decathlon extends sustainable sport gear scheme Image

Decathlon extends sustainable sport gear scheme

Sports retailer, Decathlon, has expanded its sports gear buyback scheme.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.