22nd Jan 2025 09:17
(Alliance News) - Shares in Trainline PLC dropped on Wednesday after the UK government announced its plans for online ticket retailing, following the creation of Great British Railways.
In a statement, the Department for Transport said: "After Great British Railways is established following legislation, it will retail online by bringing together individual train operators' ticket websites."
The DfT said it will work alongside a "thriving" private sector retail market, where all rail retailers can compete in an open and fair manner. It stressed the private sector will continue to play a key role in driving growth and encouraging more people to choose rail.
Trainline Chief Executive Jody Ford welcomed the "unequivocal commitment to a competitive retail market, underpinned by a level playing field."
Nonetheless, the market took fright. Shares in the London-based rail ticketing platform were 7.2% lower at 363.60 pence each in London on Wednesday morning.
The Department for Transport's update precedes their launch in the coming weeks of an industry-wide consultation on the Rail Reform Bill, which is intended to establish GBR as the governing body for passenger rail. The process of legislating for and establishing GBR is expected to take a number of years.
By Jeremy Cutler, Alliance News reporter
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