FirstGroup expects boost from back-to-school traffic as passenger numbers continue recovering
After selling off the North American businesses, the transport firm is also looking to return £500mln to shareholders via a tender offer
Company
FirstGroup PLC
LON:FGP
FirstGroup plc is engaged in the provision of passenger transport services. It operates in four divisions: Bus, UK Rail, North America and Greyhound.
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FirstGroup challenges air travel market with green budget rail service
The 100% electric rail service will offer fares from £14.90 in a bid to encourage greener and more affordable travel between London and Edinburgh
FirstGroup chief executive quits after activist investor pressure
Gregory joined FirstGroup in 2015 as chief financial officer and become chief executive in 2018.
FirstGroup receives demand for CEO to step down from activist investor
Coast wants CEO Matthew Gregory and two non-execs to stand down
Train services facing big cuts to cover funding shortfall
The gap in the industry’s finances is currently estimated at circa £2bn per annum
FirstGroup sale of US businesses scrapes through as major shareholders object
Around 39% of shareholders voted against the £3.3bn sale to Swedish group EQT Ventures
FirstGroup facing legal action over US bus sale from Coast Capital
Schroders, FirstGroup’s second-largest shareholder, has also said it intends to vote against the sales
New UK rail regime launched under Great British Railways umbrella body
Trainline's shares have tumbled after the announcement
FirstGroup lambasted for US sale by major shareholder Coast
Coast has a 13.6% stake in bus and rail operator FirstGroup
FirstGroup ends TransPennine franchise with £6mln final payment
FirstGroup said the agreement is around £50m better than its last assumption
FirstGroup sells US businesses for £3.3bn and focuses on UK bus and rail
Debt will reduce from £1.4bn at the end of March 2021 to around £100mln
FirstGroup sells Greyhound properties for US$137mln
The transport company said it has made a profit of around US$100mln, against book value.
FirstGroup reduces loss and agrees end to South West Rail franchise for £33.2mln
Operating losses reduced to £16.4mln from £118.1mln, which FirstGroup said was ahead of its expectations
FirstGroup agrees looser debt covenant terms for next year, just in case
The train and bus operator said it “is confident that the balance sheet is now robust in a range of downside scenarios”
Public transport firms offer buying opportunities all round as broker says demand reverting to pre-pandemic levels
Analysts at Liberum singled out Stagecoach as having the most upside exposure among the firms in its coverage due to its greater exposure to UK regional bus services that are being supported by government support grants
FirstGroup and Go-Ahead get rail support extension as government ends franchise system
The Department of Transport wants to switch to directly-awarded contracts once this new period of support ends
FirstGroup now expects small first-half profit as passenger numbers crawl higher
UK bus passengers have recovered to around 50% of pre-pandemic levels, while train passengers are only at around 30%
FirstGroup shares jump by a fifth on US sale talk
FirstGroup’s bus and trail operations have been hit hard by the pandemic
FirstGroup gets one of four rail franchises extended under government emergency measures
The government will continue to bear the risk for the GWR train franchise until next June
FirstGroup expects continued financial hit while social distancing remains in place
The transport firm said it is not clear how quickly demand will pick up and it needs fiscal support to return to pre-crisis levels