LONDON, April 22 (Reuters) - National Express Group Plc believes there should be consolidation in the bus and rail operating industry and is keen to team up with a rival, the Financial Times reported on Tuesday.
The newspaper quoted the company's chief executive Phil White as saying that all the bigger companies in the sector -- Arriva Plc , FirstGroup , Go-Ahead Group Plc and Stagecoach Group Plc -- had considered such a move and that National Express Group wanted to involved and could merge with any of its four rivals.
The FT cited White as saying Go-Ahead was the least likely option.
"The other three, I suppose, there are strengths and weaknesses -- it's getting the cultural differences sorted out," the paper quoted White as saying.
No-one at National Express was immediately available for comment.
National Express announced a 2002 profit drop in March that was less severe than feared and plans for a stock buyback. The profit decline was largely blamed on higher insurance bills, new rolling-stock charges and problems at an Australian franchise it quit in December.