Surprise rise in Dundee bus passengers leads to shares boom for transport group


25th September 2020

Passenger levels for Xplore Dundee are now at 61% of pre-pandemic levels, parent company National Express reported.

The bus group was one of the highest risers on the FTSE 250 as it surprised investors by revealing it had performed better than expected in recent months, particularly in its regional operations.

It said its Dundee business was now running 92% of buses while its West Midlands routes are running 103% of last year’s service and carrying 58% of the passengers

National Express shares rose 12% to close at 140p on Thursday, the market’s second highest riser behind Pets at Home.

Xplore Dundee managing director Christine McGlasson said: “I’m glad that many people are returning to our services and finding it a safe and reliable way to travel around Dundee.

“We believe public transport is crucial to the ongoing recovery of Dundee and its economy as well as helping to maintain the improved air quality we’re experiencing as a result of the lower volume of traffic.

“The challenge we’re currently facing is to balance service levels with passenger demand, which is still fluctuating and unpredictable, however it’s clear that people rely on us for their essential journeys and we intend to keep Dundee moving throughout this pandemic and beyond.”

National Express had originally expected revenue to reach around 50% of pre-Covid levels until the end of August, but it has fared better, the company said.

“We traded slightly above our previously guided base case as we closely manage customer relationships, contract details and service requirements throughout the pandemic,” it said in a statement.

To read more on this story, visit The Courier Online 

Xplore Dundee

As Dundee's principal public transport provider, we fulfill around 35,000 passenger journeys every day. Our service is part of the fabric of the city - carrying people where they need to be, and employing more than 300 people.

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