(Alliance News) - Go-Ahead Group PLC on Wednesday said the Land Transport Authority of Singapore has granted a two-year extension to the contract allowing its Singaporean arm to continue bus operations.
The FTSE 250-listed transport service provider said the extension allows it to continue operating around 450 buses in the Loyang region, which is in the east of the island near Singapore Changi Airport.
The extension will begin in September 2021 and run until September 2023. This follows the initial five-year contract which saw the company's entry into the Singapore bus market in September 2016, Go-Ahead said.
"Go-Ahead Singapore has been a great addition to the group and I am delighted that we will be running buses in Singapore until at least 2023. Our experienced management team has led the delivery of remarkable performance on behalf of the LTA in recent years and has played an important part in Singapore's response to the Covid-19 crisis," said Go-Ahead Chief Executive David Brown.
The stock was trading 3.2% higher at 670.76 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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