National Express earnings plunge 64% in 2020 due to COVID-19

FILE PHOTO: National Express coaches are seen at Victoria station, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, April 2, 2020. REUTERS/Dylan Martinez

LONDON (Reuters) - British transport company National Express said earnings fell 64% in 2020 as the pandemic impacted passenger numbers on its bus and coach operations in Spain and the UK, its school buses in the United States, and on its German rail contract.

For the 12 months ended 31 Dec. 2020, National Express posted EBITDA of 187 million pounds ($262 million) compared to the 510.1 million pounds it made the previous year, on revenues that were 29% lower.

Reporting by Sarah Young; editing by Costas Pitas