National Express has reported a 33% increase in revenue for the third quarter of the year as the travel market continues to recover.
At constant currency, revenue in the quarter was 5% ahead of the pre-pandemic level in 2019.
In a trading update for the July-September quarter, the coach operator said that it has seen strong growth in its UK and Spanish coach businesses.
Rail strikes in the UK were one factor behind the company’s good performance in its home market.
National Express provided additional services during rail strikes, and also supported the Metropolitan Police during the Queen’s funeral. On several of its core UK inter-city routes, demand is “well in excess of 2019 levels”.
Chief executive Ignacio Garat said that National Express is “well positioned for the current inflationary environment with long-term supply contracts, fuel hedging, and a proven ability to pass through price increases over time”.
For the full year, the company anticipates its results to be broadly in line with expectations.
