1st Dec 2015 11:29
LONDON (Alliance News) - Transport operator National Express Group PLC on Tuesday said it has secured a new contract under the Spanish government's Imserso pensioner holiday scheme.
The contract, awarded to its ALSA unit in Spain, has been confirmed for an initial two years, with an option to extend the deal by another two years. It will be worth EUR80.0 million in revenue to ALSA.
The Imserso scheme is a government programme which subsidises trips for pensioners in Spain outside of the tourist season.
"This is an important contract win for ALSA and is profitable from day one. Imserso is a well-known initiative for the Spanish tourist industry and we are hopeful that there could be the opportunity to expand our work further," said National Express Chief Executive Dean Finch.
Shares in National Express were down 0.2% to 320.7 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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