2021-present: FlixMobility On October 21, 2021, Munich-based Flixbus acquired Greyhound for $78 million.
Does Greyhound make money?
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.
Who just bought Greyhound?
Germany's FlixMobility acquires Greyhound Lines, the iconic U.S. bus company, in $78M deal. FirstGroup acquired Greyhound back in 2007 in a $3.6 billion deal, part of a bigger strategy to take on the U.S. market (it also bought Ryder, the yellow school bus network, around the same time).
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.
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.
