FirstGroup to sell bus operations

 

FirstGroup has announced plans to sell off its bus operations in the UK and Greyhound buses in America as it seeks a restructure to keep investors happy.

The news comes after the company said it lost £327m in the year to 31 March 2018, compared with a profit of £152.6m in 2017, leading to the departure of chief executive Tim O'Toole.

”Local
A FirstGroup bus in Bristol

This year the group's annual loss in just shy of £100m.

The Aberdeen-based company operates a fifth of all local bus services outside London as well the South Western Railway and TransPennine Express rail franchises.

It is reported to be under pressure from investors to reorganise and make changes at board level, and is set to concentrate on the North America market.

A First Group spokesperson said: ‘Today we announced that we will be pursuing strategic options, through a sale or other means, to separate First Bus from FirstGroup.

‘Please be assured that as this process unfolds, we will continue to operate our services as usual, working closely with our local authority partners and demonstrating our commitment to our customers through the service we offer them.

‘In recent years we have improved customer service at First Bus by investing in our buses and new technology, transforming our networks, and making operations and maintenance more efficient.

‘As a result, First Bus is now on a much stronger footing, and we believe it is the right time to pursue structural alternatives so the business can continue to provide excellent service, ensure the best possible future for our staff and continue to meet stakeholders’ requirements.'

The trade union Unite has about 20,000 members working for First Bus and said it would not tolerate a single job loss or reduction in members’ terms and conditions as a result of the sell-off process.

Unite national officer for passenger transport Bobby Morton said: 'On one hand, FirstGroup has praised staff for their hard work and commitment and then, in the next breath, it announces it is selling off First Bus because of so-called ‘limited synergies’ between the parent company and the bus operations.

'If any potential buyer for any of First Bus’ operations in the UK thinks that there are rich and short-term easy pickings at our members’ expense, they will need to think again.

'We regard bus services as a public service for the travelling public and not a vehicle for heavyweight corporates to squeeze the last ounce of profit from bus services.'

Unite will be holding a meeting of its First Bus reps from across the UK in London on 11 June, when First Bus executives will be in attendance.

Register now for full access


Register just once to get unrestricted, real-time coverage of the issues and challenges facing UK transport and highways engineers.

Full website content includes the latest news, exclusive commentary from leading industry figures and detailed topical analysis of the highways, transportation, environment and place-shaping sectors. Use the link below to register your details for full, free access.

Already a registered? Login

 
comments powered by Disqus
 
 
highways jobs

Transport Development Engineer

Bristol City Council
£22,021 - £23,836
An exciting opportunity has arisen in the Strategic Transport team for a junior engineer to join our Transport Development Management (TDM) team. Bristol (City Centre), City of Bristol
Recuriter: Bristol City Council

Transport Development Management Co-ordinator

Bristol City Council
£38,813 - £41,675
An exciting opportunity has arisen within Transport Development Management (TDM) City of Bristol
Recuriter: Bristol City Council

Contracts Manager - Core Service

Liverpool City Council
£37,849 - £42,683 per year
The successful candidate will manage and maintain Highways partnerships and contractual arrangements to ensure effective, quality and value for... Liverpool, Merseyside
Recuriter: Liverpool City Council

Transport Inspectors – Land & Maritime Security

Department for Transport
£33,990 - £36,880
Looking for Transport Security Inspectors to join our team to focus on direct monitoring and assessing of industry compliance against... London (Greater)
Recuriter: Department for Transport

Lead Engineer [Development]

Knowsley Metropolitan Borough Council
£40,760 - £41,675 per annum
Looking for an exciting new opportunity? Join us in Knowsley’s Major Development Team! Knowsley (Metropolitan borough), Merseyside
Recuriter: Knowsley Metropolitan Borough Council

Principal Engineer [Development]

Knowsley Metropolitan Borough Council
£34,788 - £35,934 per annum
Looking for an exciting new opportunity? Join us in Knowsley’s Major Development Team! Knowsley (Metropolitan borough), Merseyside
Recuriter: Knowsley Metropolitan Borough Council

Project Officer - Air Quality

Camden London Borough Council
£33,122 - £38,423
The successful candidate will ideally have a relevant degree or professional qualification. Camden, London (Greater)
Recuriter: Camden London Borough Council

Arborist

Royal Borough of Greenwich
£24.462 - £25.809
Seeking an experienced Climbing Arborist who has NPTC / LANTRA qualifications in chainsaw use and climbing operation units for an... Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Environmental Enforcement Patrol Officer

Brent Council
£31,548 - £33,291 p.a. inc.
Looking for a person who has experience in undertaking enforcement work, carrying out awareness raising/promotional work.  Wembley, London (Greater)
Recuriter: Brent Council

Traffic Management Operative/Foreman

Balfour Beatty
Competitive
Are you a Traffic Management Operative/Foreman with Highspeed (12AB) Qualifications, looking for a new and exciting opportunity? If so read on..... Leatherhead, Surrey
Recuriter: Balfour Beatty

Principal Economic Growth Officer

Essex County Council
Up to £45,000 per annum
It is an exciting time to be joining the Economic Growth team at Essex County Council. Essex
Recuriter: Essex County Council

Economic Infrastructure Manager

Essex County Council
Up to £57,000 per annum
It is an exciting time to be joining the Economic Growth team at Essex County Council Essex
Recuriter: Essex County Council

Head of Service - Highways

Sheffield City Council
£69,091 - £74,137
Looking for someone dynamic, with vision, energy, and an outward focus who can build strong relationships with all key partners, stakeholders with... Sheffield, South Yorkshire
Recuriter: Sheffield City Council

Senior Transport Officer

Kirklees Metropolitan Council
£33,799 - £35,934
You will be responsible for assisting the Team Manager with the day to day operational management and delivery of the transport service.  Kirklees, West Yorkshire
Recuriter: Kirklees Metropolitan Council

PCN Appeals Officer

Brent Council
£26,745 - £30,711 p.a. inc.
Looking for an experienced parking professional to join the Notice Processing Team. Wembley, London (Greater)
Recuriter: Brent Council

Environmental Protection Officer

London Borough of Sutton & The Royal Borough of Kingston Upon Thames
£25,809 to £33,291 (Grade F-G) / £33,291 to £42,684 (Grade H-I)
As an Environmental Protection Officer, you will be part of a small multidisciplinary team delivering a range of statutory environmental functions... Kingston Upon Thames (City/Town), London (Greater)
Recuriter: London Borough of Sutton & The Royal Borough of Kingston Upon Thames

Environmental Protection Team Manager

Royal Borough of Greenwich
£44.607 - £47.511
We would like to hear from exceptional candidates with broad pollution control experience and a can-do attitude who... Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Highways Gang Leader

Sandwell Metropolitan Borough Council
£24,313 - £28,785 per annum
An exciting opportunity for a Highways Gang Leader has arose based at Taylors Lane, Oldbury. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Road Agreements Team Leader OCC5803

Oxfordshire County Council
£49,522 - £56,481 per annum
Take the next step in your career - click here to find out more information. Oxford, Oxfordshire
Recuriter: Oxfordshire County Council

Highways and Street Lighting Manager

London Borough of Bromley
Circa £43,000 per annum
Seeking an experienced professional with experience in highway, street lighting and traffic engineering. Bromley (City/Town), London (Greater)
Recuriter: London Borough of Bromley