Covid-19's Impact on the Charter Bus Industry

CharterUP surveyed 2,500 motorcoach operators across the country to understand how COVID-19 has impacted the bus industry. What we found was an industry struggling to stay afloat.

Business Impact

90% of companies have less than 5% utilization of buses right now
From April to July 2020, business decreased 95% across all bus companies surveyed
72% of companies have stopped operations as a result of the pandemic
of companies will need to shut down within 3 months if demand doesn't pick back up and no additional help is received
30% more companies will shut down within 6 months if demand doesn't pick back up and no additional help is received
7% of companies have experienced an increase in shuttle business
The economic fall out is geography agnostic

Economic Impact

75% of employees have been furloughed or terminated (90k+ people employed by industry in the US prior to crisis)
of companies received financial relief from the federal government due to a pandemic only PPP
CharterUP extrapolates that all 62% of companies that received PPP funding will have exhausted the capital within 3 months

Indebtedness

62% of companies surveyed owe up to $1mm
28% of companies surveyed owe between $1-5mm
10% of companies surveyed owe more than $5mm

CharterUP's Letter To Congress

On Aug 5th, 2020 CharterUP sent a letter to Congress with signatures from hundreds of bus companies that are on the brink of shutting down and in dire need of government relief. Please email press@charterup.com to get a copy of the letter with all the signatures.

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