Demand fell due to pandemic-related regulations
In response to the COVID-19 (coronavirus) pandemic that began in 2020, many jurisdictions closed down schools for in-person learning, shifting to fully remote education. As a result, demand for school bus transportation, including the services provided by Student Transportation Inc. (STI), fell. As the economy has had a volatile recovery from the pandemic through 2022, STI’s performance has fluctuated, with some schools reopening fully and others remaining fully remote or in a hybrid model.
COVID|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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