Tonight:
5°c
Arriva drive for Madrid market
Robert Lea3 Jul 2008
Passenger transport group Arriva is to take its rivalry with National Express onto the roads of Madrid.
Arriva today said it is paying nearly e100 million (£78.6 million) to acquire the bus group Empresa de Blas, one of the Spanish capital's busiest operators.
Today's deal brings 222 buses and 679 employees to the small operation Arriva had already started in Madrid last year operating 42 vehicles.
Arriva has embraced the opportunities in Europe's liberalising transport markets, building up presences in 10 countries over the last decade.
Of other British groups, only National Express has made a significant splash in Europe, and that in the Spanish coach and bus market where Arriva is now flexing its muscles.
"Madrid's rapidly growing population provides a backdrop of strong demand and this is an important step in positioning Arriva for the development of one of Europe's most exciting city markets for passenger transport," said Arriva chief executive David Martin.
