Thursday 14 October 2021 12:43 pm

National Express facing 'no material impact' from soaring fuel prices

National Express believes the global fuel shortages have had no effect on its business.

The company has been fully stocked for fuel throughout the crisis as petrol rises to record prices.

It is also fully hedged for fuel through 2022 and into 2023.

Ignacio Garat, group chief officer, said. “Our ongoing focus on cost management along with our long-established procurement and fuel hedging programmes mean that we have seen no material impact from input cost inflation.”

Meanwhile, bus passenger numbers are closing in on pre-pandemic figures.

They have grown to 76 percent of the totals it established in 2019.

This revival in passengers numbers has coincided with the expansion of its operating services and the return of people to schools and work places.

Its domestic business UK Coach is also now offering 56 percent of its services, compared to 37 percent at the end of June.

National Express now expects to report a profit before tax in 2021.

The company is reported to be in talks to buy rival bus service Stagecoach.