Firm belief in promotions

NATIONAL Express has said it is "confident" that it will be able to fight soaring fuel prices by introducing customer promotions and cost savings.

The coach, bus and train operator is planning to use "innovative pricing mechanisms" to help offset rising oil prices and is expecting "significant year-on-year earnings growth" for the half-year and full-year results.

The company added that it hoped to benefit from more people using public transport amid the petrol-price crisis, while stating that fuel costs represent a fraction of total revenue, at five per cent for its trains business, 14 per cent for coaches and ten per cent for buses. The firm has also "hedged" itself against rising oil costs for 100 per cent of its fuel requirements this year and 47 per cent for 2009.