£100m Investment Unveiled For Stagecoach

Stagecoach has unveiled record orders of more than £100m in hundreds of new buses and coaches.

For the financial year, 2014/15, the group said it has placed orders for 568 vehicles.

The announcement comes as the Perth-based group reported strong financial figures for the business.

The investment means the Group has spent around £545m in new vehicles in the UK over the last seven years. Looking at the latest investment, Stagecoach has said £81m will be spent on 495 vehicles which will go into service in England, Scotland and Wales, while a £21m fleet of over 70 green hybrid buses will be introduced into its London operations.

All of the new vehicles will be fitted with CCTV and more than 350 will also have wi-fi installed, giving customers free internet access during their journeys.

The first of the new vehicles are expected to be delivered from Spring 2014.

Commenting on the news, Martin Griffiths, Stagecoach Group Chief Executive, said: "This record investment is a major boost for UK jobs in manufacturing and many other smaller businesses in the supply chain.

"It is also a huge vote of confidence in the future of bus and coach travel in Britain. By investing in quality and continuing to offer the best value travel of any major operator in the UK, we can help people save money, rely less on their cars and use a greener way to access work, health, education and leisure."

(JP)