• Busways Travel Services, the Tyne and Wear yellow bus
22nd September 1988, Page 12
22nd September 1988
Page 12
Page 12, 22nd September 1988
— • Busways Travel Services, the Tyne and Wear yellow bus
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company, has announed an operating profit of 0.2 million after its first 17 months of trading.
The company says this figure represents a successful turnaround from a heavily subsidised business before deregulation in 1986.
Busways had to cut costs and restructure staff pay by 30% after it lost the equivalent in subsidies. It now has a fleet of 600 vehicles, covering 29 million passenger kilometres a year, and carries more than 100 million passengers.
Busways now plans to invest 23.1 million on new vehicles and has ordered 25 Leyland Lynxes built in Workington, and 20 Scania buses built by Walter Alexander in Falkirk.
Busways operates bus services in Newcastle, Sunderland and South Shields, as well as Armstrong Coaches.