National Express set to resume UK coach services in July

National Express plans to restart its UK coach service in July, the transport group said on Friday as it looked to how the business will benefit as lockdowns ease.

Shares in the FTSE 250 bus and coach operator rose 13.7p, or more than 7%, to 195.9p, as it gave a number of positive updates to the City.

Although the company saw April revenues plunge around 50% as passenger numbers dropped due to travel restrictions, it managed to cut costs. It also got more financial headroom, including securing £600 million from the government’s Covid Corporate Financing Facility. National Express now has £1.5 billion in liquidity.

The company said it has started selling UK coach tickets for a July 1 re-start. It suspended the service in early April as Brits were encouraged to work from home.

Coaches will operate in line with government guidance on social distancing, run on a reduced timetable and be focused on cities and large towns.

The firm added that it has won a new school bus contract in the US, and forecast increased demand for its buses in Spain and Morocco as lockdowns lift.