National Express Group - History

History

In 1972 the state-owned the National Bus Company decided to bring together the scheduled coach services operated by its' bus operating companies under one brand. Initially branded as National, the National Express brand was first used in 1974. The National Express network was largely a branding exercise, with services continuing to be operated by the individual companies.

With the privatisation of the National Bus Company in the 1980s, National Express was subject to a management buyout in March 1988. The management team began to diversify, and acquired the bus company Crosville Wales in 1989 but its financial performance began to deteriorate from early 1990. A new management team took over the company in July 1991, with the backing of development and venture capital investors. The new team refocused the group on its core activities and sold Crosville Wales to British Bus Limited. In October 1991 it purchased Speedlink, an operator of coach services between Gatwick Airport and Heathrow Airport. In December 1992 National Express Group plc was floated on the London Stock Exchange. The prospectus stated the objectives of the company were to refocus and improve the profitability of the core coach business, to develop new products and services within its existing operations, and to acquire new businesses in the passenger transport market.