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Go-Ahead Group PLC (GOG)

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Monday 21 September, 2020

Go-Ahead Group PLC

New GTR contract to run to September 2021

RNS Number : 5062Z
Go-Ahead Group PLC
21 September 2020
 

The Go-Ahead Group plc   4 Matthew Parker Street, London, SW1H 9NP
Telephone 020 7799 8999


 

PRESS RELEASE

21 September 2020

THE GO-AHEAD GROUP PLC

("GO-AHEAD" OR "THE GROUP")

 

New GTR contract to run to September 2021

 

The Department for Transport (DfT) has announced that GTR's Emergency Measures Agreement (EMA), which ended on 20 September 2020, has been replaced by an Emergency Recovery Measures Agreement (ERMA).

GTR will operate under its ERMA until the end of its contract term in September 2021, with the potential for a further extension.

GTR's ERMA, which generates a margin of up to 1.5 per cent, is a management contract with no exposure to changes in passenger demand or ancillary revenue, such as car parking and retail commission.

Go-Ahead's other UK rail franchise, Southeastern, will continue operating under its EMA until October 2021, or March 2022 if extended.

Approximately 90 per cent of total Group revenues are generated through contracts where there is no direct revenue risk from changes in passenger demand.

David Brown, Go-Ahead CEO, commented:

"This contract reaffirms the Government's recognition of the important role rail plays in driving economic growth and in connecting communities.  Independent passenger surveys have found that people who have recently travelled on our services found them to be clean, safe and reliable.  We look forward to welcoming more passengers back onto our trains."

Patrick Verwer, GTR CEO, said:

"We welcome today's announcement and the stability this new agreement brings for our colleagues, who continue to focus on providing a safe and reliable service as we welcome back more customers. Going forward, we will continue to work with our partners and stakeholders across the industry to help reconnect communities, improve our performance and ensure high levels of customer satisfaction."

ENDS

For further information, please contact:

Holly Gillis, Head of Investor Relations

07766 305 594

Press office

07896 968 971





 

GO-AHEAD

Go-Ahead is one of the leading UK public transport operator companies.   Our purpose is to be the local partner taking care of journeys that enhance the lives and wellbeing of our communities across the world.   Employing around 30,000 people across our businesses, over 1.2 billion passenger journeys are undertaken on our rail and bus services every year. In addition to the travelling public, our customers include governments and local authorities. We are committed to contributing to tackling climate change, improving air quality and reducing social isolation, and aim to run a zero emission bus fleet by 2035.  

 

BUS

Go-Ahead is one of the UK's largest bus operators.   With a fleet of nearly 6,000 buses, we carry over two million passengers every day. We have a strong presence in London, with around 23 per cent market share, where we provide regulated services for Transport for London. Outside London, we principally serve high-density commuter markets, including the North East, Greater Manchester, East Yorkshire, East Anglia, South East and South West England. Internationally, we operate a bus contract in Singapore and   two bus contracts in Ireland.

 

RAIL

The rail division operates two franchises in the UK,   three contracts in Germany and one in Norway.   In the UK, Southeastern and GTR (Govia Thameslink Railway) operate through our 65% owned subsidiary, Govia, which is 35% owned by Keolis. It is the largest rail operation in the UK, responsible for around 30   per cent of all UK passenger rail journeys through its rail franchises. In Germany and Norway, our contracts are run exclusively by Go-Ahead.

 

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