Greyhound has dominated intercity bus travel in the U.S. for decades. With its fleet of 1,200 vehicles, the company transports nearly 16 million passengers annually to 2,400 North American destinations, as well as offering charter services for businesses, conventions, and schools.
Its Greyhound Package Express business also provides same-day delivery for packages to thousands of destinations.
But a drop in passenger demand due to the Covid-19 pandemic has forced the bus operator to cut back its schedule.
“The pandemic has hit the bus and motorcoach industry really harder, I think, than almost any other segment,” American Bus Association President and CEO Peter Pantuso said.
In FY2021, Greyhound saw an average of just 10,000 passenger journeys per day compared with 40,000 during the previous period. The company reported operating losses of $12 million in FY2021 and $15 million in FY2020.
Competition from low-cost airlines and a combination of increased automobile access and low fuel prices in recent years have also presented challenges for the company.
CNBC asked whether the iconic brand can provide a comeback:
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