National Express revenue makes full pandemic recovery amid pent-up demand
National Express’ revenue has made a full pandemic recovery, as pent-up demand and a domestic travel boom saw a greater take-up of coach travel last month.
The group’s revenue has finally swung back to 2019 levels in the three months to 31 March, with last month’s earnings coming in ahead of pre-pandemic figures.
While the popular travel business did not disclose the figure, however, it has grown a third year-on-year.
Chief executive Ignacio Garat said that “it’s pleasing that revenues have bounced back to 2019 levels…The strong recovery in our discretionary coach businesses in both the UK and Spain shows the pent-up demand for travel which is further evidenced by our strong trading over Easter.”
However, the cost of living crisis is starting to bite for many people, Garat noted, but pointed to the business as an “attractive low cost alternative” form of travel to help offset higher prices elsewhere.
“Looking ahead, having made an encouraging start to 2022, we anticipate further strong recovery in demand over the balance of the year, and are confident of delivering further improvements in performance during the year,” he added.