Newcastle-headquartered international bus and rail giant Go-Ahead Group said on Wednesday the Land Transport Authority (LTA) of Singapore has granted a two-year contract extension to Go-Ahead Singapore to continue operating around 450 buses in the Loyang region of the island.
Go-Ahead shares rose about 3%. The company’s stock has fallen more than 60% in the past 12 months.
“The extension, granted on the basis of strong operational performance, will begin in September 2021 and run until September 2023,” said Go-Ahead.
“This follows the initial five-year contract which saw the group’s entry into the Singapore bus market in September 2016.
“Go-Ahead has drawn on its experience as the largest bus operator in London to export best practice to another major city, Singapore.
“Colleagues from Go-Ahead London who have spent time working with Go-Ahead Singapore have, similarly, brought back skills and knowledge that are now adding value to the group’s UK operations.”
Go-Ahead CEO David Brown said: “Go-Ahead Singapore has been a great addition to the group and I am delighted that we will be running buses in Singapore until at least 2023.
“Our experienced management team has led the delivery of remarkable performance on behalf of the LTA in recent years and has played an important part in Singapore’s response to the COVID-19 crisis.”
Go-Ahead Singapore managing director Andrew Thompson said: “Today’s announcement is the result of much hard work by the 1,000 colleagues based at Loyang Depot.
“We are grateful to the Authority for the trust they have put in us and will continue to serve passengers with a safe and reliable bus network.”