Originally Posted by devnull
First are going through a tough time in the UK right now and are having to sell of numerous parts of their bus empire to meet their financial targets, they certainly do not have such deep pockets as they did before which has seen their share price going flying in the wrong direction. So I wouldn't expect mass investment, especially when Aircoach was apparently loss making in their last accounts.
Saying that I'm sure Aircoach themselves have some reserves and a little investment from First is likely.
FirstGroup are paying a heavy price for some very poor management acumen in it's recent past.
The Company's operations in the Uk have consistently figured in the press regarding poor performance and also questionable maintenance and operational attitudes.
Some high-level managerial resignations,retirements and attendant shuffling failed to produce a Management Team with a clearly defined purpose.
It would not surprise me if in the near future FirstGroup decided to disengage from the Irish Public Transport sector,thus leaving Aircoach open to accquisition (or RE-accquisition
Aircoach is currently under the stewardship of a Manager whose time is divided between Dublin and Bristol,with the Irish operation meriting the lesser part of the working week.