Gov stumps up £60m to cap bus fares at £2 with 130 operators signing up Fair's fare A new £60m government fare cap scheme will be rolled out next year ensuring bus tickets stay at £2. The initiative has the backing of 130 bus operators across the country including National Express and Stagecoach, who have agreed to charge no more than £2 for singles. The ‘Get Around’ scheme is designed to help [...]
Stagecoach revenue grows by £100m in 12 months but fuel costs eat into profits rising prices Stagecoach’s revenue has jumped by nearly £100m in the past 12-months, but profits have taken a hit as fuel costs spike. The bus operator pocketed nearly £670m in the six months to the end of October, up from around £580m in the same period a year ago. However, operating and pre-tax profits have taken a [...]
Stagecoach returns to growth as bus journeys bounce back to 81 per cent of pre-Covid levels Public Transport Britain’s biggest bus company Stagecoach today said it now in a “good financial position” after “recovering customer demand” saw passenger journeys bounce back to 81 per cent of pre-pandemic levels. The public transport operator said it had “firmly returned to growth” after its profits more than doubled year on year, from £17m in the financial [...]
After trains, it’s a bus strike: Hundreds of Stagecoach drivers to walk out on 30 June and 4 July June 22, 2022 Hundreds of bus drivers are to go on strike in a dispute over pay. Members of the Unite union employed by Stagecoach will walk out on June 30 and again on July 4. Unite general secretary Sharon Graham said: “Stagecoach is a highly profitable company – it can easily afford to pay its workers a [...]
Stagecoach strikes £20m deal to snap up Kelsian’s 150 buses in east London May 27, 2022 Stagecoach confirmed this morning it has sealed a £20m deal to buy Kelsian Group’s east London bus operations. The travel business said it has “entered into binding agreements” to purchase the operations, which also include a deport at Lea Interchange, for an initial £10m followed by £1m each year for 10 years after the move [...]
DWS publishes Stagecoach offer giving shareholders until 21 May to accept March 23, 2022 German asset manager DWS published today its final offer to Stagecoach, giving the company’s shareholders until 21 May to accept it. Stagecoach said the £594.9m cash offer will offer investors a 54.3 per cent premium on the bus company’s closing price on 20 September, as well as 37.2 per cent increase on the closing price [...]
Stagecoach merger creates superior value than DWS offer, says National Express March 17, 2022 A merger between rivals National Express and Stagecoach could unlock higher dividends for shareholders compared with DWS’s offer, National Express said today. According to National Express, a merger could see share value go up to 170p per Stagecoach share – a 66 per cent premium on the 105p offered last week by German asset manager [...]
Asset manager DWS snatches Stagecoach from National Express for close to £600m March 9, 2022 Asset manager DWS Infrastructure has, through subsidiary PEIF III Bidco, snatched Stagecoach from National Express for £594.9m. The news has sent Stagecoach’s share soaring 36.64 per cent to 104.60p. The company has offered 37.2 per cent to Stagecoach’s closing price of 76.55p per share on 8 March, causing Stagecoach’s board to withdraw the National Express [...]
CMA launches probe into £1.9bn merger between National Express and Stagecoach January 26, 2022 The UK competition watchdog said this morning it has launched an investigation into the £1.9bn merger between National Express and Stagecoach due to concerns over the tie-up. The Competition and Markets Authority (CMA) said it had served a so-called initial enforcement order, which stops the companies from fully combining while it considers the deal. Stagecoach [...]
National Express and Stagecoach announce merger, creating £1.9bn company December 14, 2021 Coach giant National Express and rival Stagecoach have announced they will merge by late 2022, reaching an agreement after months of talks. Following the announcement, shares for both Stagecoach and National Express surged, going up 12 and 2.98 per cent respectively. The new company – which will have a fleet of around 40,000 vehicles and [...]