Tag Archives: TOC

Passengers pay more but traffic continues to grow

The fare-paying passenger continues to shoulder an increasing proportion of the full cost of his or her ticket, while the proportion funded by the state steadily declines. That is one of the main findings of the ORR’s 4thannual financial report for the rail industry, covering the period 1 April 2013 to 31 March 2014. Continue reading Passengers pay more but traffic continues to grow

Crossrail expenditure inflates state expenditure on rail

Government support for the rail industry increased £227m to £5.287bn in 2013-14, the highest level since 2007-08, according to the latest ORR statistical release. However, the figure is inflated by Crossrail expenditure, which accounted for £1.1bn. The direct rail grant to Network Rail actually fell £327m to £3.453bn, making it the lowest payment since 2005-06. Net payments from franchised passenger train operators dropped to £40m from £420m in 2012-13, and the PTE grant increased £18m to £182m. Continue reading Crossrail expenditure inflates state expenditure on rail

State owned operator pays out record premium

State-run train operator East Coast paid a record £202.8m premium last year (2012: £188.6m). The report and financial statements released by Directly Operated Railways Ltd (its state-owned holding company) for the financial year to 31 March 2013, show that turnover increased 4.2% to £693.8m (2012: £665.8m).  This figure also includes the proceeds from parking, catering and commissions from other operators’ ticket sales, though passenger revenues remain the main source. Continue reading State owned operator pays out record premium