After the latest round of cuts, Greyhound's rural service will basically not exist. But its monopoly on some of the highest-ridership routes in the country will — for now.10 июл. 2018 г.
Is public transit a monopoly?
If all bus services within a city or urban area are provided by one publicly-owned company it's a public monopoly. Absence of competition often results in poor service. Conforming to government guidelines for staff terms and conditions often results in over-staffing with high salary costs.
Who owns Greyhound in the US?
German transportation company FlixMobility is buying Greyhound's bus operations in the U.S. in order to strengthen its position in the country. The purchase price is $140 million cash plus another $32 million to be paid in installments over 18 months.
Are Greyhounds profitable?
Despite the challenges, Greyhound increased its adjusted operating profit for the year to $55.2 million, from $54.4 million in fiscal 2016, a 2.7 percent increase. That translated to an adjusted operating margin for Greyhound of 6.2 percent in fiscal 2017 versus a margin of 6 percent for fiscal 2016.
Why did Greyhound go out of business?
COVID-19 caused a 95 percent drop in ridership. Thus, Greyhound reduced service on March 25, 2020 and suspended six routes on April 5, 2020. On May 6, 2020, Greyhound Canada announced it would permanently shut down all its remaining bus services which it did on May 13, 2021.
