Go-Ahead reports highest passenger numbers since pandemic began
Transport group Go-Ahead today said its annual outlook had improved as rising vaccination rates drove passenger volumes to the highest level since the pandemic began.
The company said profit expectations for its London and international bus units have increased, as well as its rail services.
Following the update, shares in Go-Ahead rose 0.1 per cent as markets opened.
Transport operators took a big hit last year as lockdowns hampered non-essential travel, with people avoiding buses and trains due to fears of contracting Covid-19.
However, passenger volumes for the regional bus services are currently around 65 to 70 per cent of levels seen before the pandemic hit, Go-Ahead said today.
The firm expects to have more than £270m in available cash and unused loans at the end of the year.
“As we emerge from the pandemic, public transport has a huge role to play in economic recovery, and an equally important role in tackling climate change as we encourage more people onto our services and away from private cars,” CEO David Brown said.