Polish express coach service is Souter's latest expansion

SCOTTISH transport entrepreneur Brian Souter yesterday launched an express coach service in Poland, marking the Stagecoach chief executive's second personal investment in the east European country.

Polski Bus will operate 15 coaches on eight national and international routes from the Polish capital, Warsaw.

The investment, which is understood to be in the region of 10 million, follows on from Souter's recent backing of Pure Poland, which runs 15 health and fitness clubs in Bulgaria, Poland and Romania.

A spokesman for Souter Investments said: "We have been looking at the Polish economy for some time.

"We think it's a population that's growing more prosperous all the time and it is an attractive market for investments."

The eight routes will link 16 Polish cities, including Gdansk, Krakow and Lublin, as well as four international destinations - Berlin, Bratislava, Prague and Vienna.

Fares will start from "one zloty plus one zloty booking fee", mirroring the pricing structure of Stagecoach's Megabus inter-city services in the UK.

The 14.5-metre "luxury" coaches operating on the routes have air-conditioning, free wi-fi internet access and electrical charging points for laptops and mobile phones.

Andy Macfie, chief executive of Souter Investments, said: "PoskiBus is an example of an investment where our transport expertise, combined with excellent local management and our pool of transport consultants, can add significant value.

"The model is based on successful and fast-growing transport businesses operating in the UK, US and Canada, adapted for the Polish market."

Souter's other foreign investments include stakes in New Zealand transport companies Howick & Eastern Buses, Mana Coach Services and ferry operator Fullers Group.

His investment vehicle yesterday revealed it is also part of a consortium that had agreed to buy Turkish ferry operator Istanbul Deniz Otobuslen. Financial terms were not disclosed.

At home, Souter's transport investments include bus builder Alexander Dennis and bio-fuel producer Argent Energy.

He also has stakes in luxury motor yacht builder Sunseeker International, insurance firm Esure and price comparison website Go Compare.

l A City analyst yesterday warned that there were "reasons for caution" after Stagecoach shares rose 4 per cent on Friday.

RBS Equities analyst Joe Spooner said the market expected Stagecoach to announce the return of 300m to shareholder at its full-year results on 29 June. But he said the group may be more cautious after delays to the tendering process for the west coast rail franchise and so 200-250m is more likely.