July 10, 2020

The last financial report from First Group of UK of March 31, 2020 reported combined losses of $375 million for the quarter, and its shares selling at less than $1 per share. Ridership at Greyhound is down 90%; Canada Greyhound ceased operating in early May. Losses at First Student, school bus operations, are significant with schools closing throughout North America due to pandemic.

In comparison, total losses for entirety of 2019 were $100 million. First Group says they still will have financial stability with their creditors as long as they are able to sell their North American operations prior to March, 2022. Meanwhile, coronavirus restrictions in UK have put tremendous stress on their more expensive UK rail operations.

More here: https://www.barrons.com/articles/greyhound-owner-firstgroup-slumps-on-loss-analysts-say-the-road-to-recovery-will-be-difficult-51594219399