UK rail strikes fuel rebound in fortunes at National Express
National Express has reported a further rebound in passengers, and a rise in revenues after it stepped up services during rail strikes and helped shuttle police during the Queen’s funeral.
The coach and bus operator said revenue rose by 33% in the three months to the end of September, and were now above 2019 levels, thanks in part to strong growth in its UK and Spanish coach business.
In the UK, it said demand was partly driven by industrial action on the country’s train network. That included August strikes by rail operators which halted intercity trains across Britain.
National Express said its own staff pay negotiations were “ongoing and progressing”, in line with expectations.
It also experienced a rise in demand for coaches when Metropolitan police were dispatched after the Queen’s death in September.
“Our ability to react quickly to events means that we were able to provide more services during rail strikes, and we were proud to play a part in supporting the Metropolitan police during the Queen’s funeral,” National Express said in a trading update on Thursday.
“On several of our core UK intercity corridors, we are now seeing demand well in excess of 2019 levels.”
Meanwhile, the bus operator has been one of the beneficiaries of an £88m grant obtained by Transport for West Midlands, which has frozen fares for passengers and supported National Express as passenger numbers continue to recover after the Covid pandemic.
Fuel prices have continued to rise amid the war in Ukraine, but National Express said it was “well-positioned” to weather the rise, thanks to hedging contracts over the next two years.
National Express is still licking its woundsafter being snubbed by rival Stagecoach after a merger proposal. Stagecoach instead
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