6th Feb 2019 06:54
LONDON (Alliance News) - FTSE 250-listed FirstGroup PLC intends to dispose of its Manchester operations to reduce losses, Telegraph reported late Monday.
The newspaper said the public transport firm is mulling a sale of hundreds of buses across depots in Bury, Oldham and Bolton, to rival operators for just GBP20 million.
Telegraph said Manchester, FirstGroup's fourth-biggest regional bus network by revenue, which generates about GBP100 million per annum, has veered sharply into the red and is now its worst performing UK network.
https://www.telegraph.co.uk/business/2019/02/04/firstgroup-jettison-loss-making-manchester-bus-network/
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