Commenting on ORR industry finance data for 2022/23 Andy Bagnall said:
The most recent ORR data shows that contracted operators have substantially reduced the levels of public subsidy. However, revenues are still well short of pre pandemic levels and industry finances remain unsustainable.
To protect the long term economic and environmental benefits the railway brings, passenger contracts need to be rapidly evolved to give operators the commercial freedoms and incentives they need to attract passengers back, unlock further revenue growth and control costs – putting the railway on a sustainable footing.
Notes to editors
- Section 2 of Rail Partners’ report Track to Growth, demonstrates how private operators transformed a declining railway into a growing sector. Read more here: https://railpartners.co.uk/our-work/publications/track-to-growth
- The full ORR dataset can be access here: https://dataportal.orr.gov.uk/statistics/finance/rail-industry-finance/
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