FirstGroup reaches end of the line of Greyhound bus ride

[Eugene]

Source: Reuters

BUSINESS NEWS MAY 30, 2019 / 2:23 AM / UPDATED 27 MINUTES AGO

FirstGroup reaches end of the line of Greyhound bus ride

Noor Zainab Hussain, Tanishaa Nadkar
4 MIN READ

(Reuters) - Dallas-based Greyhound was put up for sale by Britain’s FirstGroup on Thursday as the North American bus line battles to compete with growing pressure from low cost airlines.

Greyhound has been a household name in North America since it was founded in 1914, with prominent roles for its buses and their running dog logo in movies, music and motorcycle stunts.

FirstGroup, which bought Greyhound for $3.6 billion including debt from Laidlaw International in 2007, plans to sell the bus line and spin-off its UK operator First Bus to head off shareholder pressure, lifting its shares by as much as 13%.

Changing travel trends have meant a bumpy road for Greyhound from the highs of featuring in Frank Capra’s 1934 movie “It Happened One Night” and Simon and Garfunkel’s “America” in 1968 to the low of filing for bankruptcy protection in 1990.

Greyhound survived and is now the biggest operator of scheduled intercity coaches in North America, carrying around 17 million passengers a year and serving some 2,400 destinations.

-snip-

Read more: https://www.reuters.com/article/us-firstgroup-results/firstgroup-reaches-end-of-the-line-of-greyhound-bus-ride-idUSKCN1T00KA

[mahatmakanejeeves]

1. Amtrak and Greyhound should be combined.

Towns that are not on the rail network could have bus service integrated with train service.

[Wellstone ruled]

2. Just a matter of time.

Eourpe has a much different Travel Culture and there for,First had know clue as to what they purchased.

Will be interesting how this plays out,first off,they tried to get by on the cheap. Well that came back in Spades.

[mahatmakanejeeves]

3. From Trainorders:

Passenger Trains > Off Topic: Greyhound up for sale