End of the road for Greyhound?

AMERICA’S famous 104-year-old Greyhound bus service looks under threat after declining sales forced its UK owner to issue a profit warning.

Greyhound Lines suffered a 2.4pc decline in revenues from the end of September to January as it was hit by fierce competition.

Shares in FTSE 250-listed Firstgroup, which owns Greyhound, fell 12pc after it downgraded its earnings expectations.

The historic brand said long-haul routes were particularly affected by airlines’ aggressive pricing with ‘disappointing’ sales over Thanksgiving and Christmas.

In the UK Firstgroup sales for its rail and bus businesses increased 3.2pc and 1.4pc respectively.