Knutsford Express adding terminal at Sangster International Airport
The station will be completed by the end of February and become operational in March, Knutsford CEO Oliver Townsend shared at the Jamaica Stock Exchange (JSE) Regional Investments and Capital Markets Conference at the Jamaica Pegasus on Wednesday.
The bus company has always catered to airport passengers, but the station will enable the company to better serve its customers and eventually contribute to earnings, he said.
“We expect overtime that it will contribute to earnings because we feel strongly that customers will be more inclined to travel to Jamaica knowing well, that they can send their mother or their children here without going through the hassle of going downtown to board our buses,” Townsend told Loop News.
Knutsford Express passengers have to take a shuttle, at an added cost, from the airport and head to downtown, Montego Bay to board the Knutsford Express at Pier 1.
But in recent months, traffic between the airport and Pier 1 has become unbearable.
“This causes a lot of inefficiencies for our company and inconvenience for our customers,” Townsend said.
He went on to say that Knutsford will start with passengers that arrive on flights after 9 am.
“There aren’t many flights that come in earlier,” the CEO added.
Knutsford will not need to add any new vehicles for this service but will hire staff to work at the terminal.
The company has performed favourably in recent times and continues to grow its schedule to meet the needs of its growing customer base.
Profit for the three months ended November 31, 2015 increased by 19 per cent, moving from $24.3 million in the comparative period in 2015 to $30 million.
Revenue increase by 38 per cent, moving from $128.6 million in the comparative quarter 2015 to $176.3 million in the review period.
Total assets have grown by 24 per cent in the quarter from $376 million to $466 million, reflecting continued investment in new coaches.
"Our value proposition is leaving the driving to us, we started on the premise of having a first world experience in ground travel, " Townsend said.