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Go-Ahead Group PLC on Friday said its subsidiary Govia Thameslink Railway has won a three-year contract extension from National Rail, which oversees train services in Britain.
Under the agreement, Govia will continue to operate the Thameslink, Southern and Great Northern rail services, the UK's largest railway network, Go-Ahead explained. Govia has operated the services since 2014.
GTR will earn a fixed management fee of £8.8 million per year, with an additional performance fee of up to £22.9 million per year, Go-Ahead, a Newcastle, England-based bus and train operator said.
‘A top priority is to build passenger numbers back after the Covid-19 pandemic. Go-Ahead will bring commercial acumen and international experience to bear in encouraging people back to the railways,’ Christian Schreyer, Chief Executive Officer of Go-Ahead commented.
The contract will start on April 1 and run until at least April 1, 2025, Go-Ahead added.
Go-Ahead holds 65% of Govia shares, with Paris-based public transport firm Keolis holding the other 35%.
Go-Ahead shares were 2.4% higher at 761.00 pence each in London on Friday morning.
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