National Express (NEX) will reconsider its plan to award an 11.2p final dividend at its May annual general meeting, as the transport company warned of a heavy drop in passenger numbers that has taken place over recent weeks.
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National Express has retained some income even when services have stopped or been disrupted, including its school and shuttle bus businesses. But in response to lost revenues, the company is seeking an extension of its banking facilities - it currently has £500m in undrawn facilities on top of more than £1.3bn in fixed borrowing facilities. The group also expects to benefit from support from the UK and Spanish governments.
