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It really wouldn't surprise me if the MM are helping Systemica to get out out of their short with the most profit.
This is great news. Correct me if I'm wrong but I believe there was free travel for everyone in 2023. This was due to end at the end of the year.
It now looks like they are extending if for many groups. Good news!!
Someone has just dumped some shares. Quite a drop!
Showing confidence and buying another 1% of the company. Very positive
They did say it has the largest pipeline of potential deals. Not sure what it's worth but decent exposure anyway
CHARLOTTE — Charlotte City Council voted on a contract for the new company that will soon run the Charlotte Area Transit System.
National Express Transit is set to take over operations after a unanimous approval on Monday.
The city’s former operator was RATP-DEV, which has faced scrutiny over transparency and timeliness issues.
The city contracts with a third party to comply with state law so workers can unionize.
Channel 9 was told that no bus drivers will lose their jobs as a result of the switch.
This was also very positive news in North America recently. Student Tranportation of America it seems has been underperforming and we have therefore been selected to rake on 220 of their routes (on top of our own)
https://www.schoolbusfleet.com/10210626/durham-school-services-expands-transportation-reach-in-florida-county?utm_source=dlvr.it&utm_medium=twitter
https://www.news4jax.com/news/local/2023/11/08/dcps-votes-to-switch-school-bus-service-to-tackle-driver-shortages-delays/?utm_source=twitter&utm_medium=social&utm_campaign=snd&utm_content=wjxt4
It was announced when the deal was first announced. All funded through debt, existing cash balances and the benefit from effective date to completion. No need for equity to be raised
Yes that does look positive
And there is a "congratulations" poster on the wall :)
Is powering on again.......
Has the difference in price between the London and Nigeria exchange ever been bigger?
London closes at £1.185 and nigeria closes at £1.98 (using the official rate).
Hopefully they have a better grip on prospects than UK investors!
I'm sure there are ongoing discussions with all bus companies about loss making routes. If local authorities want them to stay in place they need to be paid for / subsidised. Bus companies are not charities.
Inflation has now increased the losses on the existing routes that were subsidised and also more routes have fallen into that pool.
Sorry not sure if this has been posted previously. Looks like Alsa are keen to get involved in Spanish high speed rail
https://www.diariodesevilla.es/economia/Eco-Rail-Magtel-Alsa-ferroviarios_0_1845717038.html?utm_source=twitter.com&utm_medium=smm&utm_campaign=noticias
Yes Kingrav think you may be right could be a blip. Some of tge companies on the short tracker website look wrong!
Not sure if this has been covered but the short tracker now shows no positions open > 0.5%.
Have Systemica also significantly reduced or closed their position?
Thedogwalker...According to the half year results below the pension deficit is circa £32-34m. We have defecit repayments of circa £7m annually for the next 3 years to compensate for this.
Pensions
The Group's principal defined benefit pension scheme is in the UK. The combined deficit under IAS 19 on 30 June 2023 was £34.6m (December 2022: £42.1m), with the IAS 19 deficit for the Group main's scheme, West Midlands Bus being £32.1m (December 2022: £39.7m)
The agreed deficit repayments on the West Midlands Bus plan are £7.5m, £7.7m and £7.8m per annum for the three years from 1 April 2023.
Just seen this too. As you say Akasm I assume the new funding is only for those that are sticking to the £2 rate
https://www.gov.uk/government/news/major-150-million-funding-boost-for-local-bus-services-as-fare-cap-set-to-be-extended
I think it's about time the bod start being properly transparent on the profitability of uk bus and coach separately. We are not a charity
"We will work closely with Travel for West Midlands and Department for Transport to review the terms of the funding allocation to ensure we can protect our bus network and deliver a reliable service for our customers."
https://www.google.com/amp/s/www.birminghammail.co.uk/black-country/national-express-makes-major-announcement-27970011.amp
https://www.google.com/amp/s/www.birminghammail.co.uk/black-country/national-express-makes-major-announcement-27970011.amp
Looks like they are taking immediate action to cut further costs / unprofitable routes. I'm glad Gavin Williamson is taking an interest. Hopefully he will soon understand how much money we lose!
https://www.busandcoachbuyer.com/mp-campaigns-against-bus-service-cut/
https://bromsgrovestandard.co.uk/news/changes-to-bus-routes-will-affect-27-route-between-frankley-and-maypole/
https://bromsgrovestandard.co.uk/news/frankley-councillor-launches-campaign-to-prevent-changes-to-27-bus-route/
https://bromsgrovestandard.co.uk/news/frankley-councillor-launches-campaign-to-prevent-changes-to-27-bus-route/