SGC.L Share News (SGC)

(Sharecast News) - Transport operator Stagecoach welcomed funding from the Department for Transport on Tuesday and said it stands ready to restore its services to pre-Covid levels.
The DfT has announced that it is making available a further £254m for buses and £29m for trams and light rail to help increase the frequency and capacity of services as lockdown measures are eased in England. It has also confirmed that the funding will be kept under review.

Normal bus, tram and light rail networks across the UK have been paused since March due to the Covid-19 outbreak and Stagecoach said current capacity of services and associated passenger revenue is "significantly" reduced as a result of government guidance on social distancing. However, the government has now confirmed it plans to pay for more comprehensive services.

Chief Executive Martin Griffiths, said: "This funding is designed to help transition our public transport networks from lockdown to more normal levels. It is important the right level of resources remain in place to ensure public transport operators can continue to provide local communities with the services they need.

"With the comprehensive safety measures we have put in place and the support of our passengers and our employees, we stand ready to restore our services to closer to pre-Covid levels. We will continue to work with our local authority partners and other key stakeholders on making the best use of increased capacity."

Stagecoach said bus operators are also in talks with the Scottish and Welsh Governments on how increases in bus services can be introduced in those parts of the UK.