U.S. market a bright spot for UK transport operators

UK's bus industry has come under pressure as austerity measures have forced the government and local councils to reduce subsidies to bus operators. FirstGroup issued a profit warning at the end of March that triggered a spate of broker downgrades and wiped a third off FirstGroup's shares. The U.S. market has been a bright spot for UK transport operators. National Express reported a 5 percent increase in North America revenue last month while FirstGroup said its U.S. school bus and Greyhound operations continued to perform well. Read More>>>