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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