The route traffic turnover of Eurolines Lux Express grew 16% in the third quarter and the company will invest 20 million in order to purchase new buses.
The route traffic turnover of MootorReisi AS that operates under the brand of Eurolines Baltic grew 16.4% in the third quarter of 2009. The three quarters overall, revenue growth amounted to 26%. The number of passengers increased by 11% in the third quarter, and 22% in the first nine months. The average ticket price has risen 3%.
The operating volume of the company increased by 23% in the first nine months, compared to last year. The volume growth mostly came from extending the network of routes between Latvia and Lithuania. Net revenue per route kilometre grew by 3% in the first nine months of this year while in 2009 costs per route kilometre have reduced by 2% in comparison to the same period last year.
As a milestone in the company´s sales activity, the Internet sales channel has shown its great importance by end-September. Bus tickets were sold via the Internet to approximately 25% of all passengers.
In connection with the improvement of the market situation Eurolines Lux Express concluded in October a contract for acquiring new buses in the first half of 2010, totaling nearly 20 million kroons. With this investment, Eurolines Lux Express will replace most of the bus fleet on the route between Tallinn and St Petersburg in the beginning of 2010. It is planned to increase profitability of Express Lux product concept for the Tallinn-Petersburg route in September and rise also the number of daily departures from seven to eight.
"Although Estonia's importance as a tourist destination for Russia has grown substantially in recent years, it still remains abnormally low. We nevertheless believe in growing interest in the near future. It is clear that the bus companies are the most competitive provider of connections between Tallinn and St. Petersburg. Today we and our partners offer 7-9 connections between two cities depending on the weekday. Customers can choose between various service levels and fares. However, in order to be ready for the continued development of the market, we decided to focus in our investment plan of 2010 on the Tallinn-St Petersburg route, where we see great potential for further growth in the coming years." Chairman of Eurolines Lux Express Hannes Saarpuu commented on the investment.
Eurolines Lux Express is a brand used by MootorReisi AS and its subsidiaries for operating international regular bus routes. The company MootorReisi AS was established in 1993 and has since developed into one of the leading providers of international coach transport in the Baltic region. Our main offices, including operational centres and sales networks, are located in Tallinn, Riga, Vilnius, Klaipeda and St. Petersburg. The fleet consists of almost 50 modern tourist coaches.