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May 6, 2021, 8:01 am
Ticket sales app Trainline has revealed the pandemic sent it slumping to a hefty annual loss (Joe Giddens/PA)
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Ticket sales app Trainline has revealed that the pandemic sent it slumping to a hefty annual loss, but cheered signs that demand for rail travel is returning as lockdown lifts.
The group saw pre-tax losses widen to £106.8 million for the year to February 28 from £80.2 million the previous year after net ticket sales plummeted 79%.
Trainline posts £100m loss as sales drop through the floor
Trainline has reported a huge £100m loss for the year as lockdown restrictions sent sales plummeting.
The company reported an operating loss of £100m compared to an operating profit of £2m the previous year, as net ticket sales plummeted 79 per cent to £783m.
The FTSE 250 firm’s revenue dropped 74 per cent from £261m to £67m at the end of February.
It has been a challenging year for Trainline. At the start of the pandemic UK passenger volumes fell to around five per cent of the equivalent prior year period.
Demand for rail journeys is likely to stay depressed for some time particularly as companies start to adopt a hybrid working approach.
Ticket sales site Trainline has revealed that the pandemic sent it slumping to a hefty annual loss, but cheered signs that demand for rail travel is returning as lockdown lifts.
The group saw pre-tax losses widen to £106.8 million for the year to February 28 from £80.2 million the previous year after net ticket sales plummeted 79%.
It said the first quarter of its new financial year has seen the first signs of recovery as net ticket sales have risen with the return of non-essential travel across the UK.
Trainline saw pre-tax losses widen to £106.8 million for the year to February 28 from £80.2 million the previous year
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