We have proudly provided passengers and communities across North America with reliable and affordable transportation services for decades, including certain of our routes that date back more than a century. Following the COVID-19 pandemic, the company faced significant challenges, as ridership and demand in our industry have remained well below pre-pandemic levels.
We conducted a thorough evaluation of strategic options with the support of our financial stakeholders and determined that initiating court-supervised sale processes provides time and flexibility for the company to maximize the value of our assets and is the best path forward for our people, communities and customers.
Taken together, once completed, these proposed transactions will preserve thousands of jobs and ensure uninterrupted passenger transportation services to millions of passengers throughout the United States and Canada, many of whom rely on our transportation network.
Coach USA has commenced voluntary Chapter 11 proceedings to facilitate these sale processes. The proposed transactions are subject to higher and better offers and Court approval, among other conditions.
Coach USA is operating as normal as we begin the court-supervised sale processes.
