| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Trainline ticket sales suffer amid Covid-19 crisis
StockMarketWire.com
|
The Trainline has reported a fall in net ticket sales to £783 million, equivalent to 21% of the prior year, as the measures put in place to curb the spread of coronavirus resulted in a significant reduction in passenger volume.
UK Consumer net ticket sales of £473 million were 23% of prior year, peaking in August between the first and second lockdowns at 46% versus the wider industry passenger volumes at 34%. UK Consumer revenue declined to £44 million, 25% of prior year.
UK Trainline for Business (UK T4B) net ticket sales of £75 million was 6% of the prior year, with demand for business travel remaining subdued and with the White Label business impacted by season ticket refunds. UK T4B revenue declined to £12 million, 21% of prior year.
The international business showed the strongest recovery, reflecting an earlier and more prolonged relaxation of restrictions in key European markets. This helped International net ticket sales recover to £235 million, or 48% of the same period in the prior year, including all of Trainline's top three domestic markets (France, Italy, Germany) returning to year-on-year growth in the summer months.
Jody Ford, CEO of Trainline said: 'The last 12 months have clearly been challenging for the industry. However, we are confident we will see more customers booking rail travel online and a continued market shift to digital when government lockdown restrictions ease, as we did last summer.
'Over the year we have kept our foot on the accelerator improving the customer experience, which means we are well positioned to capitalise on this shift to online and digital, and to support rail industry recovery when people start travelling again. In particular, we have leveraged our customer insights and data to understand the 'new commuter' and invested in app technology that will support the UK roll-out of new Flexi Tickets.'
Trainline will publish its full-year results for the financial year 2021 (the twelve-month period running from 1 March 2020 to 28 February 2021) on Thursday 6May 2021.
At 8:02am: (LON:TRN) Trainline PLC share price was 0p at 418.8p
Story provided by StockMarketWire.com
|
|
|
|
|
|
