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Megabus owner, Coach USA, files for bankruptcy after COVID-19 blows

Posted on AllSides June 17th, 2024
From The Left

Coach USA, the operator of Megabus and two dozen other companies, has filed for bankruptcy protection amid lagging ridership that hasn’t recovered since the COVID-19 pandemic. The company said bus operations will continue as it undergoes a court-supervised sale of its assets. In court filings, Coach USA said its ridership plummeted 90% in 2020 during pandemic lockdowns. While ridership has bounced back somewhat, the company only saw 45% of pre-pandemic levels in 2023. Meanwhile, the company said it is facing increasing operating costs due to rising fuel, insurance, labor costs...

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