Trainline CEO: “We are seeing the first signs of recovery”

The CEO of Trainline says they are keeping their foot on the accelerator and they are seeing the first signs of recovery from the COVID pandemic.

The comments from Jody Ford come as the independent rail and coach travel ticket selling platform has revealed its results for the 12 months ended February 28, 2021.

Net ticket sales of £783 million was 21 per cent of the prior year, with revenue of £67 million 26 per cent of the previous 12 months.

However the results reveal that the average cash burn reduced to £5 million per month, outperforming the company’s original guidance of £8-9 million.

Jody said: “Last year was clearly very challenging for the industry. However, as we enter FY2022 we are seeing the first signs of recovery, with net ticket sales increasing as lockdowns ease and as non-essential travel returns, particularly in the UK.

“Our continued investment in product and tech through COVID-19 means, despite the ongoing COVID-19 uncertainty, we are well positioned to support the wider industry recovery and continue driving the market shift to online and mobile tickets.

“We are keeping our foot on the accelerator, improving the customer experience and launching new products across our markets. Our focus includes developing innovative, bespoke features to serve the needs of the new commuter in the UK, and harnessing growing competition amongst rail operators in Europe by combining all carriers into one app to position Trainline as the marketplace of choice.

“Looking ahead I feel very confident about Trainline’s prospects for the future. We remain committed to championing rail as a greener mode of travel for millions of customers around Europe, and to driving the significant long-term growth opportunity for this business.”

Photo credit: Trainline

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