<PAGE>   1

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000

                                       OR

              [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                   For the transition period from      to
                                                  ----    ----

                         Commission file number 1-10841

                              GREYHOUND LINES, INC.
              and its Subsidiaries identified in Footnote (1) below
             (Exact name of registrant as specified in its charter)

                 DELAWARE                               86-0572343
     (State or other jurisdiction of                 (I.R.S. employer
      incorporation or organization)                identification no.)

   15110 N. DALLAS PARKWAY, SUITE 600
              DALLAS, TEXAS                                75248
(Address of principal executive offices)                 (Zip code)

                                 (972) 789-7000
              (Registrant's telephone number, including area code)

                                      NONE
         (Former name, former address and former fiscal year, if changed
                               since last report)

     Indicate by check mark whether the registrant (1) has filed all reports
     required to be filed by Section 13 or 15(d) of the Securities Exchange Act
     of 1934 during the preceding 12 months (or for such shorter period
     registrant was required to file such reports), and (2) has been subject to
     such filing requirements for the past 90 days.

                           YES   X                 NO
                                ---                   ---


     As of November 11, 2000, the registrant had 58,743,069 shares of Common
     Stock, $0.01 par value, outstanding all of which are held by the
     registrant's parent company.



(1)  This Form 10-Q is also being filed by the co-registrants specified under
     the caption "Co-Registrants", each of which is a wholly-owned subsidiary of
     Greyhound Lines, Inc. and each of which has met the conditions set forth in
     General Instructions H(1)(a) and (b) of Form 10-Q for filing Form 10-Q in a
     reduced disclosure format.

(2)  The registrant meets the conditions set forth in General Instructions
     H(1)(a) and (b) of Form 10-Q and is therefore filing this form with the
     reduced disclosure format.



<PAGE>   2

CO-REGISTRANTS

This Form 10-Q is also being filed by the following entities. Except as set
forth below, each entity has the same principal executive offices, zip code and
telephone number as that set forth for Greyhound Lines, Inc. on the cover of
this report:

<TABLE>
<CAPTION>
                                                                                    I.R.S. EMPLOYER    JURISDICTION
                                                              COMMISSION             IDENTIFICATION         OF
NAME                                                           FILE NO.                   NO.            INCORP.
----                                                         ------------           ---------------    ------------
<S>                                                          <C>                    <C>                <C>
Atlantic Greyhound Lines of Virginia, Inc.                   333-27267-01              58-0869571        Virginia

GLI Holding Company                                          333-27267-04              75-2146309        Delaware

Greyhound de Mexico, S.A. de C.V.                            333-27267-05                 None           Republic of
                                                                                                         Mexico

Sistema Internacional de Transporte de Autobuses, Inc.       333-27267-08              75-2548617        Delaware

Texas, New Mexico & Oklahoma Coaches, Inc.                   333-27267-10              75-0605295        Delaware
1313 13th Street
Lubbock, Texas 79408
(806) 763-5389

T.N.M. & O. Tours, Inc.                                      333-27267-11              75-1188694        Texas
(Same as Texas, New Mexico & Oklahoma Coaches, Inc.)

Vermont Transit Co., Inc.                                    333-27267-12              03-0164980        Vermont
345 Pine Street
Burlington, Vermont 05401
(802) 862-9671
</TABLE>

As of September 30, 2000, Atlantic Greyhound Lines of Virginia, Inc. had 150
shares of common stock outstanding (at a par value of $50.00 per share); GLI
Holding Company had 1,000 shares of common stock outstanding (at a par value of
$0.01 per share); Greyhound de Mexico, S.A. de C.V. had 10,000 shares of common
stock outstanding (at a par value of $0.10 Mexican currency per share); Sistema
Internacional de Transporte de Autobuses, Inc. had 1,000 shares of common stock
outstanding (at a par value of $0.01 per share); Texas, New Mexico & Oklahoma
Coaches, Inc. had 1,000 shares of common stock outstanding (at a par value of
$0.01 per share); T.N.M. & O. Tours, Inc. had 1,000 shares of common stock
outstanding (at a par value of $1.00 per share); and Vermont Transit Co., Inc.
had 505 shares of common stock outstanding (no par value). Each of the above
named co-registrants (1) have filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period such co-registrant was required to file such
reports), and (2) have been subject to such filing requirements for the past 90
days.



                                       2
<PAGE>   3

                     GREYHOUND LINES, INC. AND SUBSIDIARIES

<TABLE>
<CAPTION>
                                                                                                      PAGE NO.
                                                                                                      --------
<S>                                                                                                   <C>
PART I.  FINANCIAL INFORMATION

  Item 1.         Financial Statements:
                    Interim Consolidated Statements of Financial Position as of
                       September 30, 2000 (Unaudited) and December 31, 1999........................       5
                    Interim Consolidated Statements of Operations for the Three and
                       Nine months Ended September 30, 2000 and 1999 (Unaudited)...................       6
                    Condensed Interim Consolidated Statements of Cash Flows for the
                       Nine months Ended September 30, 2000 and 1999 (Unaudited)...................       7
                    Notes to Interim Consolidated Financial Statements (Unaudited).................       8

  Item 2.         Management's Narrative Analysis of Results of Operations.........................      10


PART II. OTHER INFORMATION

Item 1.  Legal Proceedings.........................................................................      14

Item 6.  Exhibits and Reports on Form 8-K..........................................................      14


SIGNATURES.........................................................................................      15
</TABLE>



                                       3
<PAGE>   4







                          PART I. FINANCIAL INFORMATION

                          ITEM 1. FINANCIAL STATEMENTS







                                       4
<PAGE>   5

                     GREYHOUND LINES, INC. AND SUBSIDIARIES
              INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
                      (IN THOUSANDS, EXCEPT SHARE AMOUNTS)


<TABLE>
<CAPTION>
                                                                                         SEPTEMBER 30,     DECEMBER 31,
                                                                                             2000              1999
                                                                                        --------------    --------------
                                                                                          (UNAUDITED)
<S>                                                                                     <C>               <C>
Current Assets
    Cash and cash equivalents .......................................................   $       11,052    $        8,295
    Accounts receivable, less allowance for doubtful accounts of $398 and $402 ......           51,644            46,830
    Inventories, less allowance for shrinkage of $260 and $226 ......................            8,325             7,494
    Prepaid expenses ................................................................            4,606             5,694
    Assets held for sale ............................................................            4,490             4,545
    Current portion of deferred tax assets ..........................................           12,966            12,864
    Other current assets ............................................................            2,624             1,851
                                                                                        --------------    --------------
         Total Current Assets .......................................................           95,707            87,573
Prepaid pension plans ...............................................................           31,908            29,983
Property, plant and equipment, net of accumulated depreciation of $191,892
     and $173,273 ...................................................................          416,312           397,077
Investments in unconsolidated affiliates ............................................           15,763            16,028
Deferred income taxes ...............................................................           17,078            14,711
Insurance and security deposits .....................................................           25,198            22,220
Goodwill, net of accumulated amortization of $4,897 and $3,523 ......................           44,009            45,384
Intangible assets, net of accumulated amortization of $35,970 and $31,82 ............           27,015            25,821
                                                                                        --------------    --------------
         Total Assets ...............................................................   $      672,990    $      638,797
                                                                                        ==============    ==============

Current Liabilities
    Accounts payable ................................................................   $       22,757    $       23,824
    Due to Laidlaw ..................................................................           74,379            42,560
    Accrued liabilities .............................................................           97,006            57,238
    Rents payable ...................................................................           24,449            19,129
    Unredeemed tickets ..............................................................            9,414            11,956
    Current portion of environmental reserves .......................................            1,896             1,473
    Current maturities of long-term debt ............................................            4,051             5,671
                                                                                        --------------    --------------
         Total Current Liabilities ..................................................          233,952           161,851
Environmental reserves ..............................................................            5,621             5,840
Long-term debt, net .................................................................          170,877           174,581
Minority interests ..................................................................            4,163             4,233
Other liabilities ...................................................................           21,584            22,432
                                                                                        --------------    --------------
         Total Liabilities ..........................................................          436,197           368,937
                                                                                        --------------    --------------

Redeemable preferred stock (2,400,000 shares authorized; 208,550 and
  1,678,150 shares issued as of September 30, 2000 and December 31, 1999) ...........            5,214            41,954

Stockholders' Equity
    Common stock (100,000,000 shares authorized; par value $.01; 58,743,069
          shares issued as of September 30, 2000 and December 31, 1999) .............              587               587
    Capital in excess of par value ..................................................          315,617           322,026
    Retained deficit ................................................................          (82,100)          (92,182)
    Accumulated other comprehensive loss, net of tax benefit of $1,360 ..............           (2,525)           (2,525)
                                                                                        --------------    --------------
         Total Stockholders' Equity .................................................          231,579           227,906
                                                                                        --------------    --------------
       Total Liabilities and Stockholders' Equity ...................................   $      672,990    $      638,797
                                                                                        ==============    ==============
</TABLE>



        The accompanying notes are an integral part of these statements.



                                       5
<PAGE>   6

                     GREYHOUND LINES, INC. AND SUBSIDIARIES
                  INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (IN THOUSANDS)


<TABLE>
<CAPTION>
                                                            THREE MONTHS ENDED             NINE MONTHS ENDED
                                                               SEPTEMBER 30,                  SEPTEMBER 30,
                                                            2000           1999           2000            1999
                                                        ------------   ------------   ------------    ------------
                                                                (Unaudited)                    (Unaudited)
<S>                                                     <C>            <C>            <C>             <C>
OPERATING REVENUES
      Transportation service
          Passenger services ........................   $    251,852   $    231,016   $    648,203    $    585,506
          Package express ...........................         10,729         10,803         31,961          30,741
      Food services .................................         12,169         11,579         32,599          29,241
      Other operating revenues ......................         16,525         15,401         50,382          47,563
                                                        ------------   ------------   ------------    ------------
          Total Operating Revenues ..................        291,275        268,799        763,145         693,051
                                                        ------------   ------------   ------------    ------------

OPERATING EXPENSES
      Maintenance ...................................         25,442         22,738         71,394          65,643
      Transportation ................................         68,499         60,112        190,323         164,465
      Agents' commissions and station costs .........         50,815         48,464        138,729         132,250
      Marketing, advertising and traffic ............          8,055          9,316         23,809          23,553
      Insurance and safety ..........................         14,124         16,285         39,627          40,657
      General and administrative ....................         35,188         31,248         93,375          89,860
      Depreciation and amortization .................         12,137         11,073         33,654          31,812
      Operating taxes and licenses ..................         15,473         15,355         45,927          44,052
      Operating rents ...............................         21,405         20,164         63,275          57,057
      Cost of goods sold - food services ............          8,015          7,529         21,364          19,296
      Other operating expenses ......................          2,863            501          5,119           2,106
                                                        ------------   ------------   ------------    ------------
          Total Operating Expenses ..................        262,016        242,785        726,596         670,751
                                                        ------------   ------------   ------------    ------------

Operating Income ....................................         29,259         26,014         36,549          22,300
Settlement of Stock Options .........................             --             --             --          21,294
Interest Expense ....................................          5,590          5,304         16,612          16,961
                                                        ------------   ------------   ------------    ------------
Income (Loss) Before Income Taxes ...................         23,669         20,710         19,937         (15,955)
Income Tax Provision (Benefit) ......................         10,243         10,789          8,750          (5,683)
Minority Interests ..................................              7            460           (156)            783
                                                        ------------   ------------   ------------    ------------
Net Income (Loss) Before Extraordinary Item .........         13,419          9,461         11,343         (11,055)
Extraordinary Item, net of tax benefit of $1,310 ....             --             --             --           1,607
                                                        ------------   ------------   ------------    ------------
Net Income (Loss) ...................................   $     13,419   $      9,461   $     11,343    $    (12,662)
                                                        ============   ============   ============    ============
</TABLE>



        The accompanying notes are an integral part of these statements.



                                       6
<PAGE>   7

                     GREYHOUND LINES, INC. AND SUBSIDIARIES
             CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (IN THOUSANDS)



<TABLE>
<CAPTION>
                                                                         NINE MONTHS ENDED
                                                                            SEPTEMBER 30,
                                                                        2000            1999
                                                                    ------------    ------------
                                                                            (Unaudited)
<S>                                                                 <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss) .............................................   $     11,343    $    (12,662)
  Extraordinary item ............................................             --           1,607
  Non-cash expenses and gains included in net income (loss) .....         37,608          28,313
  Net change in certain operating assets and liabilities ........         47,162          33,218
                                                                    ------------    ------------
    Net cash provided by operating activities ...................         96,113          50,476
                                                                    ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Capital expenditures ..........................................        (61,498)        (87,511)
  Proceeds from assets sold .....................................         20,200             942
  Payments for business acquisitions, net of cash acquired ......             --          (7,491)
  Other investing activities ....................................         (1,662)           (958)
                                                                    ------------    ------------
    Net cash  used for investing activities .....................        (42,960)        (95,018)
                                                                    ------------    ------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Payments on debt and capital lease obligations ................         (4,934)        (10,797)
  Redemption of preferred stock .................................        (48,982)        (22,260)
  Proceeds from issuance of common stock to Laidlaw .............        243,158         265,805
  Purchase of common stock from Laidlaw .........................       (237,325)       (140,204)
  Redemption of 8 1/2% debentures ...............................           (205)         (3,740)
  Payment of quarterly preferred dividends ......................         (2,108)         (3,435)
  Net change in revolving credit facility .......................             --         (37,785)
                                                                    ------------    ------------
    Net cash provided by (used for) financing activities ........        (50,396)         47,584
                                                                    ------------    ------------

NET INCREASE IN CASH AND CASH EQUIVALENTS .......................          2,757           3,042
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ..................          8,295           4,736
                                                                    ------------    ------------
CASH AND CASH EQUIVALENTS, END OF PERIOD ........................   $     11,052    $      7,778
                                                                    ============    ============
</TABLE>



        The accompanying notes are an integral part of these statements.



                                       7
<PAGE>   8

                     GREYHOUND LINES, INC. AND SUBSIDIARIES
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2000
                                   (UNAUDITED)

1. INTERIM CONSOLIDATED FINANCIAL STATEMENTS

In the opinion of management, the unaudited Interim Consolidated Financial
Statements of Greyhound Lines, Inc. and Subsidiaries ("Greyhound" or the
"Company") include all adjustments, consisting of only normal recurring
adjustments, necessary to present fairly the Company's financial position as of
September 30, 2000, the results of its operations for the three and nine months
ended September 30, 2000 and 1999 and cash flows for the nine months ended
September 30, 2000 and 1999 and have been prepared on a going concern basis
which contemplates the realization of assets and the settlement of liabilities
and commitments in the normal course of operations. Due to the seasonality of
the Company's operations, the results of its operations for the interim period
ended September 30, 2000 may not be indicative of total results for the full
year. Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted pursuant to the rules and regulations
promulgated by the Securities and Exchange Commission. The unaudited Interim
Consolidated Financial Statements should be read in conjunction with the audited
Consolidated Financial Statements of Greyhound Lines, Inc. and Subsidiaries and
accompanying notes for the year ended December 31, 1999. Certain
reclassifications have been made to the prior period statements to conform them
to the current year presentation. For the three and nine months ended September
30, 2000 and 1999, the Company's comprehensive income (loss) approximated its'
net income (loss).

2. COMMITMENTS AND CONTINGENCIES

The Company's principal sources of liquidity are cash flow from operations and,
previously, funds provided by the Company's parent, Laidlaw Inc. ("Laidlaw").
During the third quarter, Laidlaw advised the Company that cash funding, after
August 1, 2000, would be limited to the cash flow generated by the Company from
its operations and that additional funds from Laidlaw would not be available.
Laidlaw further requested and authorized the Company to seek additional funding
from outside financing sources for its seasonal cash requirements and capital
expenditure programs. On October 24, 2000, the Company completed and closed on a
two-year, $125 million revolving credit facility ("Revolving Credit Facility")
with Foothill Capital Corporation ("Foothill") to fund its working capital and
near-term capital expenditure needs.

Upon completion of this transaction, Greyhound paid $43 million of intercompany
amounts due to Laidlaw, with all remaining intercompany amounts then due
converting to an intercompany loan subordinate to the Revolving Credit Facility.
The intercompany loan matures 91 days after the maturity of the Foothill
agreement. Interest on the loan accrues at the Applicable Federal Rate and is
payable at maturity.

Letters of credit or borrowings are available under the Revolving Credit
Facility subject to a maximum of $125 million based upon 85% of the appraised
wholesale value of certain bus collateral and 50% of the fair market value
(based on appraisals to be obtained) of certain real property collateral. The
Company currently has availability under the Revolving Credit Facility of $87.5
million and, after obtaining current appraisals on the real property collateral
and pledging additional buses, anticipates having full availability by December
31, 2000.

Borrowings under the Revolving Credit Facility will initially bear interest at a
rate equal to Wells Fargo Bank's prime rate plus 0.50% per annum or LIBOR plus
2.0% as selected by the Company. After December 31, 2000, the interest rates
will be subject to quarterly adjustment based upon the Company's ratio of debt
to EBITDA for the four previous quarters. Initially, letter of credit fees will
be 2.00% per annum based upon the maximum amount available to be drawn under
each letter of credit. After December 31, 2000, letter of credit fees will be
based on the then applicable LIBOR margin.

The Revolving Credit Facility is secured by liens on substantially all of the
assets of the Company and the stock and assets of certain of its subsidiaries.
The Revolving Credit Facility is subject to certain affirmative and negative
operating and financial covenants, including maximum total debt to EBITDA ratio;
minimum EBITDA to interest ratio; minimum shareholder's equity; limitation on
non-bus capital expenditures; limitations on additional liens, indebtedness,
guarantees, asset disposals, advances, investments and loans; and restrictions
on the redemption or retirement of certain subordinated indebtedness or equity
interests, payment of dividends and transactions with affiliates, including
Laidlaw.



                                       8
<PAGE>   9

The Company's primary uses of cash are for operating activities, capital
expenditures and debt service. As of September 30, 2000, the Company had $174.9
million of long-term indebtedness (including a current portion of $4.1 million),
principally, its 11-1/2% Senior Notes due 2007 in the amount of $150 million.
Interest on the Senior Notes is payable in semi-annual installments of $8.6
million, each April and October. The Company has received ninety (90) new motor
coaches from Motor Coach Industries International. Payment for the buses,
totaling $27.5 million, is payable to Motor Coach in December 2000. The Company
is seeking permanent lease or purchase money financing for these buses or will
finance the buses using the Revolving Credit Facility.

At September 30, 2000, the Company had 208,550 shares of Redeemable Preferred
Stock outstanding. Each share of Redeemable Preferred Stock is convertible, at
the option of the holder, into $33.33 in cash. As of the date of this report,
the Company has made all required conversion payments called for shares tendered
for conversion. On November 1, 2000, the Company paid a quarterly dividend to
holders of the Redeemable Preferred Stock.



                                       9
<PAGE>   10

ITEM 2. MANAGEMENT'S NARRATIVE ANALYSIS OF RESULTS OF OPERATIONS

GENERAL

Greyhound is the only nationwide provider of scheduled intercity bus
transportation services in the United States. The Company's primary business
consists of scheduled passenger service, package express service and food
services at certain terminals. The Company's consolidated operations include a
nationwide network of terminal and maintenance facilities, a fleet of
approximately 2,900 buses and approximately 1,800 sales outlets.

The Company's business is seasonal in nature and generally follows the pattern
of the travel industry as a whole, with peaks during the summer months and the
Thanksgiving and Christmas holiday periods. As a result, the Company's operating
cash flows are also seasonal with a disproportionate amount of the Company's
annual operating cash flows being generated during the peak travel periods. The
day of the week on which certain holidays occur, the length of certain holiday
periods, and the date on which certain holidays occur within the fiscal quarter,
may also affect the Company's quarterly results of operations.

RESULTS OF OPERATIONS

The following table sets forth the Company's results of operations as a
percentage of total operating revenue for the three and nine months ended
September 30, 2000 and 1999:


<TABLE>
<CAPTION>
                                                          THREE MONTHS ENDED              NINE MONTHS ENDED
                                                             SEPTEMBER 30,                   SEPTEMBER 30,
                                                         2000            1999            2000            1999
                                                     ------------    ------------    ------------    ------------
<S>                                                  <C>             <C>             <C>             <C>
OPERATING REVENUES
  Transportation service
    Passenger services ...........................           86.5%           86.0%           84.9%           84.5%
    Package express ..............................            3.7             4.0             4.2             4.4
  Food services ..................................            4.1             4.3             4.3             4.2
  Other operating revenues .......................            5.7             5.7             6.6             6.9
                                                     ------------    ------------    ------------    ------------
    Total Operating Revenues .....................          100.0           100.0           100.0           100.0
                                                     ------------    ------------    ------------    ------------

OPERATING EXPENSES
  Maintenance ....................................            8.7             8.5             9.4             9.5
  Transportation .................................           23.5            22.4            24.9            23.7
  Agents' commissions and station costs ..........           17.4            18.0            18.2            19.1
  Marketing, advertising and traffic .............            2.8             3.5             3.1             3.4
  Insurance and safety ...........................            4.8             6.0             5.2             5.9
  General and administrative .....................           12.1            11.6            12.2            13.0
  Depreciation and amortization ..................            4.2             4.1             4.4             4.6
  Operating taxes and licenses ...................            5.3             5.7             6.0             6.3
  Operating rents ................................            7.4             7.5             8.3             8.2
  Cost of goods sold - food services .............            2.8             2.8             2.8             2.8
  Other operating expenses .......................            1.0             0.2             0.7             0.3
                                                     ------------    ------------    ------------    ------------
    Total Operating Expenses .....................           90.0            90.3            95.2            96.8
                                                     ------------    ------------    ------------    ------------

Operating Income .................................           10.0             9.7             4.8             3.2
Settlement of Stock Options ......................             --              --              --             3.1
Interest Expense .................................            1.9             2.0             2.2             2.4
                                                     ------------    ------------    ------------    ------------
Income (Loss) Before Income Taxes ................            8.1             7.7             2.6            (2.3)
Income Tax Provision (Benefit) ...................            3.5             4.0             1.1            (0.8)
Minority Interests ...............................             --             0.2              --             0.1
                                                     ------------    ------------    ------------    ------------
Net Income (Loss) Before Extraordinary Item ......            4.6             3.5             1.5            (1.6)
Extraordinary Item ...............................             --              --              --             0.2
                                                     ------------    ------------    ------------    ------------
Net Income (Loss) ................................            4.6             3.5             1.5            (1.8)
                                                     ============    ============    ============    ============
</TABLE>



                                       10
<PAGE>   11

The following table sets forth certain operating data for the Company for the
three and nine months ended September 30, 2000 and 1999. Certain statistics have
been adjusted and restated from that previously published to provide consistent
comparisons.

<TABLE>
<CAPTION>
                                              THREE MONTHS ENDED SEPTEMBER 30,            NINE MONTHS ENDED SEPTEMBER 30,
                                              2000          1999        % CHANGE         2000          1999        % CHANGE
                                           ----------    ----------    ----------     ----------    ----------    ----------
<S>                                        <C>           <C>           <C>            <C>           <C>           <C>
Regular Service Miles (000's) ..........       98,091        96,750           1.4%       263,935       255,305           3.4%
Total Bus Miles (000's) ................       99,262        97,862           1.4%       270,410       261,323           3.5%
Passenger Miles (000's) ................    2,714,214     2,641,272           2.8%     7,040,729     6,642,330           6.0%
Passengers Carried (000's) .............        7,149         7,140           0.1%        19,196        18,591           3.3%
Average Trip Length (passenger miles
/ passengers carried) ..................          380           370           2.7%           367           357           2.8%
Load (avg. number of passengers per
regular service mile) ..................         27.7          27.3           1.5%          26.7          26.0           2.7%
Load Factor (% of available seats
filled) ................................         55.9%         56.2%         (0.5%)         53.9%         53.7%          0.4%
Yield (regular route revenue /
passenger miles) .......................   $   0.0928    $   0.0875           6.1%    $   0.0921    $   0.0881           4.5%
Average Ticket Price ...................   $    35.23    $    32.36           8.9%    $    33.77    $    31.49           7.2%
Total Revenue Per Total Bus Mile .......   $    2.934    $    2.747           6.8%    $    2.822    $    2.652           6.4%
Cost Per Total Bus Mile:
  Maintenance ..........................   $    0.256    $    0.232          10.3%    $    0.264    $    0.251           5.2%
  Transportation .......................   $    0.690    $    0.614          12.4%    $    0.704    $    0.629          11.9%
</TABLE>


THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 RESULTS OF OPERATIONS

The Company's results of operations include the operating results of On-Time
Delivery and LSX Delivery (collectively the "acquisitions"). The purchase of
On-Time Delivery occurred during the first quarter of 1999 and the acquisition
involving LSX Delivery occurred during the second quarter of 1999. The results
for the acquisitions are included as of their respective purchase dates.

Operating Revenues. Total operating revenues increased $22.5 million, up 8.4%,
and $70.1 million, up 10.1% for the three and nine months ended September 30,
2000, compared to the same periods in 1999.

Passenger services revenues increased $20.8 million, up 9.0%, and $62.7 million,
up 10.7%, for the three and nine months ended September 30, 2000, compared to
the same periods in 1999. The increases in regular route revenues reflect the
impact of a 6.1% and 4.5% improvement in yield for the three and nine months
ended September 30, 2000, combined with 2.7% and 2.8% increases in average trip
length and 0.1% and 3.3% increases in passengers carried.

Package express revenues decreased $0.1 million, down 0.7%, and increased $1.2
million, up 4.0%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999 (including increases of $0.1 million and
$1.8 million related to the acquisitions). Excluding the acquisitions, the
Company experienced a decrease due to reduced standard product deliveries (the
traditional, low value, terminal to terminal market segment) offset somewhat by
gains in same day and priority product deliveries.

Food services revenues increased $0.6 million, up 5.1%, and $3.4 million, up
11.5%, for the three and nine months ended September 30, 2000, compared to the
same periods in 1999. Food services revenues increased over the prior year due
primarily to the addition of eight in-terminal restaurants that were previously
concessionaire-operated Burger King locations and the increase in passenger
traffic.

Other operating revenues, consisting primarily of revenue from charter and
in-terminal sales and services, increased $1.1 million, up 7.3%, and $2.8
million, up 5.9%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999. The increases are attributable to higher
tenant income and long distance commissions.



                                       11
<PAGE>   12

Operating Expenses. Total operating expenses increased $19.2 million, up 7.9%,
and $55.8 million, up 8.3%, for the three and nine months ended September 30,
2000, compared to the same periods in 1999. The increase is attributable to 1.4%
and 3.5% increases in bus miles operated for the three and nine months ended
September 30, 2000, increased fuel prices, higher driver wages, higher
maintenance costs, increased benefits costs, increased ticket and express
commissions resulting from higher sales and, for the nine months ended September
30, 2000, $1.5 million related to the operations of the acquisitions.

Maintenance costs increased $2.7 million, up 11.9%, and $5.8 million, up 8.8%,
for the three and nine months ended September 30, 2000, compared to the same
periods in 1999, due to increased bus miles, higher labor and materials costs
and fewer buses remaining under warranty.

Transportation expenses which consist primarily of fuel costs and driver
salaries, increased $8.4 million, up 14.0%, and $25.9 million, up 15.7%, for the
three and nine months ended September 30, 2000, compared to the same periods in
1999, due primarily to increased bus miles, fuel costs, and higher driver wages.
Transportation expenses increased on a per-mile basis by 12.4% and 11.9%, for
the three and nine months ended September 30, 2000, due largely to higher fuel
prices in 2000 compared to the prior year, and to the impact of the driver wage
increases. For the three and nine months ended September 30, 2000, the average
cost per gallon of fuel increased to $0.945 and $0.900 per gallon, compared to
$0.648 and $0.590 per gallon during the same periods in 1999, resulting in
increased fuel cost of $4.8 million and $13.8 million.

Agents' commissions and station costs increased $2.4 million, up 4.9%, and $6.5
million, up 4.9%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999. The increase is primarily due to
commissions from increased ticket sales, terminal salaries associated with
staffing for the increase in passengers, terminal salary raises and the
inclusion of the acquisitions.

Marketing, advertising and traffic expenses decreased $1.3 million, down 13.5%,
and increased $0.3 million, up 1.1%, for the three and nine months ended
September 30, 2000, compared to the same periods in 1999, due to the timing of
advertising expenditures.

Insurance and safety costs decreased $2.2 million, down 13.3%, and $1.0 million,
down 2.5%, for the three and nine months ended September 30, 2000, compared to
the same periods in 1999 principally due to insurance rebates received as a
result of lower accident frequency.

General and administrative expenses increased $3.9 million, up 12.6%, and $3.5
million, up 3.9%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999 due to higher benefits costs ($3.2 million
and $4.1 million related to the Company's management incentive plan and $1.6
million and $4.3 million related to the Company's health and welfare plan for
the three and nine months ended September 30, 2000, compared to the same periods
in 1999) partially offset by a reduction in expenses associated with remediation
of the Company's computer systems related to the Year 2000. For the three and
nine months ended September 30, 1999, Year 2000 expenses totaled $1.8 million
and $4.5 million, respectively.

Depreciation and amortization increased $1.1 million, or 9.6%, and $1.8 million,
or 5.8%, for the three and nine months ended September 30, 2000, compared to the
same periods in 1999. The increases are primarily due to higher capital
expenditures in prior periods, and goodwill amortization attributable to the
acquisitions.

Operating taxes and licenses expense increased $0.1 million, up 0.8%, and $1.9
million, up 4.3%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999 due to increased payroll taxes resulting
from increased salaries and head-counts related to higher business volume
(including increased miles operated) and increased fuel taxes resulting from
increased miles.

Operating rents increased $1.3 million, up 6.2%, and $6.2 million, up 10.9%, for
the three and nine months ended September 30, 2000, compared to the same periods
in 1999 due to the increase in revenues and an increase in the number of buses
financed under operating leases.

Food services cost of goods sold increased $0.5 million, up 6.5%, and $2.1
million, up 10.7%, for the three and nine months ended September 30, 2000,
compared to the same periods in 1999, primarily due to the increases in food
services revenues.

Other operating expenses increased $2.4 million, up 471.5%, and $3.0 million, up
143.1%, for the three and nine months ended September 30, 2000, compared to the
same periods in 1999 due to the write-down of an investment and losses on
disposal of property, plant and equipment.



                                       12
<PAGE>   13

Interest expense increased $0.3 million, up 5.4%, for the three months ended
September 30, 2000 and decreased $0.3 million, down 2.1%, for the nine months
ended September 30, 2000, compared to the same periods in 1999. For the
three-month period, the increase is attributable to interest on the installment
conversion payments to certain preferred stockholders. For the nine-month
period, the decreased expense is due to a reduction in the average debt
outstanding partially offset by interest on the installment conversion payments
to certain preferred stockholders.

LIQUIDITY AND CAPITAL RESOURCES

The Company's principal sources of liquidity are cash flow from operations and,
previously, funds provided by the Company's parent, Laidlaw Inc. ("Laidlaw").
During the third quarter, Laidlaw advised the Company that cash funding, after
August 1, 2000, would be limited to the cash flow generated by the Company from
its operations and that additional funds from Laidlaw would not be available.
Laidlaw further requested and authorized the Company to seek additional funding
from outside financing sources for its seasonal cash requirements and capital
expenditure programs. On October 24, 2000, the Company completed and closed on a
two-year, $125 million revolving credit facility ("Revolving Credit Facility")
with Foothill Capital Corporation ("Foothill") to fund its working capital and
near-term capital expenditure needs.

The Company's primary uses of cash are for operating activities, capital
expenditures and debt service. As of September 30, 2000, the Company had $174.9
million of long-term indebtedness (including a current portion of $4.1 million),
principally, its 11-1/2% Senior Notes due 2007 in the amount of $150 million.
Interest on the Senior Notes is payable in semi-annual installments of $8.6
million, each April and October. The Company has received ninety (90) new motor
coaches from Motor Coach Industries International. Payment for the buses,
totaling $27.5 million, is payable to Motor Coach in December 2000. The Company
is seeking permanent lease or purchase money financing for these buses or will
finance the buses using the Revolving Credit Facility.

Net cash provided by operating activities for the nine months ended September
30, 2000 was $96.1 million, an increase of $45.6 million from the $50.5 million
generated during the same period of 1999. The increase is due primarily to the
improvement in net income and an increase in accrued expenses related to terms
provided by the Company's vendor for new bus purchases. Net cash used for
investing activities for the first nine months of 2000 was $43.0 million
compared to $95.0 million for the first nine months of 1999. The decrease is
principally due to $44.0 million in sale-leaseback proceeds received in the
first nine months of 2000, compared to no sale-leaseback proceeds during the
same period of 1999, reduced capital expenditures and no acquisition spending
during the first nine months of 2000 compared to the same period of 1999. Net
cash used for financing activities in the first nine months of 2000 was $50.4
million versus $47.6 million cash provided by financing activities during the
same period in 1999. The $98.0 million reduction in cash provided from financing
activities is primarily due to repurchase of common stock from Laidlaw, the
improved operating income in 2000, as well as reduced capital expenditures and
increased sale-leaseback proceeds during 2000.

GOVERNMENT REGULATION

On August 17, 2000, in response to cautionary statements contained in the
Company's Form 10-Q for the period ending June 30, 2000, concerning the loss of
funding from Laidlaw, the U.S. Surface Transportation Board ("STB") issued a
decision requesting comments concerning the liquidity situation of the Company
and its potential impact on operations. The Company and Laidlaw have responded
to the STB inquiry and have advised the STB that the Company has completed the
Revolving Credit Facility. Additionally, the U.S. Department of Transportation,
which oversees the Company's authority to self-insure a portion of its
automobile insurance, is monitoring the Company's financial situation and its
capability to fund self-insured claims. Loss of self-insurance authority or
modification of its terms may adversely affect the Company's results of
operations, liquidity, or financial condition.



                                       13
<PAGE>   14

                           PART II. OTHER INFORMATION


ITEM 1. LEGAL PROCEEDINGS

On May 9, 2000, a lawsuit was filed by two holders of Redeemable Preferred Stock
alleging: (i) that the Company, in violation of federal securities laws,
materially misrepresented facts, and omitted reference to material facts, with
respect to the conversion rights of holders of the Redeemable Preferred Stock
and (ii) that the Company was in breach of the rights of holders of Redeemable
Preferred Stock as contained in the Company's Restated Certificate of
Incorporation. The suit sought recovery from the Company of the conversion
payments relating to the Redeemable Preferred Stock held by the plaintiffs,
totaling $17.4 million, costs, attorneys' fees and interest. Laidlaw was also
named as a defendant in the suit. Plaintiffs alleged that Laidlaw tortiously
interfered with the Company's obligations to the plaintiffs and sought
injunctive relief, actual and punitive damages, costs, attorneys' fees and
interest. The suit, Reliant Trading and Deutsche Bank AG, London Branch v.
Greyhound Lines, Inc. and Laidlaw Inc., is pending in the United States District
Court for the Eastern District of Wisconsin, Civil Action 00-C-0656. On May 31,
2000, another holder of Redeemable Preferred Stock, Silverado Arbitrage Trading
Ltd., filed a motion with the Court seeking to intervene in the lawsuit.
Silverado sought recovery of conversion payments totaling $4.9 million, costs,
attorneys' fees and interest from the Company and sought injunctive relief,
actual and punitive damages, costs, attorneys' fees and interest as to Laidlaw.

On June 8 and 15, 2000, the Company and Laidlaw reached separate confidential
settlements with the plaintiffs and Silverado whereby they would receive
payments from the Company of the conversion amounts for their Redeemable
Preferred Stock, together with interest accruing from May 1, 2000, in weekly
installments through August 31, 2000. The Company has fulfilled all of its
obligations under the settlements. Accordingly, the foregoing litigation is
expected to be dismissed in the near future.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)  EXHIBITS

10.44     -  Loan and Security Agreement among Greyhound Lines, Inc., as
             Borrower, the Financial Institutions named as Lenders, and Foothill
             Capital Corporation as Agent dated October 24, 2000.(1)

27        -  Financial Data Schedule as of and for the nine months ended
             September 30, 2000.(2)

----------

(1)      Incorporated by reference from the Registrant's Report on Form 8-K
         regarding the financing agreement dated October 27, 2000.

(2)      Filed only in EDGAR format with the Registrant's Quarterly Report on
         Form 10-Q for the quarter ended September 30, 2000.

(b)  REPORTS ON FORM 8-K

    On September 22, 2000 the Company filed a current report on Form 8-K with
the Securities and Exchange Commission to report that Laidlaw Inc., the parent
of Greyhound Lines, Inc., anticipates securing financing facilities sufficient
to satisfy its projected working capital needs.

    On October 27, 2000 the Company filed a current report on Form 8-K with the
Securities and Exchange Commission to report that Greyhound Lines, Inc. had
entered into a two year $125 million revolving credit facility with Foothill
Capital Corporation which management believes will be sufficient to satisfy it's
working capital and near-term capital needs.



                                       14
<PAGE>   15

                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


Date: November 13, 2000

                                       GREYHOUND LINES, INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       ATLANTIC GREYHOUND LINES OF
                                       VIRGINIA, INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       GLI HOLDING COMPANY

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       GREYHOUND de MEXICO, S.A. de C.V.

                                       By: /s/ Cheryl W. Farmer
                                          --------------------------------------
                                          Cheryl W. Farmer
                                          Examiner


                                       SISTEMA INTERNACIONAL de
                                       TRANSPORTE de AUTOBUSES, INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       TEXAS, NEW MEXICO & OKLAHOMA
                                       COACHES, INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       T.N.M. & O. TOURS, INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer


                                       VERMONT TRANSIT CO., INC.

                                       By: /s/ Jeffrey W. Sanders
                                          --------------------------------------
                                          Jeffrey W. Sanders
                                          Senior Vice President and Chief
                                          Financial Officer



                                       15
<PAGE>   16

                               INDEX TO EXHIBITS

<TABLE>
<CAPTION>
       EXHIBIT
       NUMBER              DESCRIPTION
       -------             -----------
<S>                        <C>
         27                FINANCIAL DATA SCHEDULE
</TABLE>