The sales of tickets on the Trainline booking platform witnessed a hike of 68 percent in the last financial year ending February 28 to 2.5 billion pounds. The figure is impressive as the fourth quarter was impacted by the new Covid variant Omicron. The revenue increased 181 percent compared to the previous year.
The Omicron invasion led to global travel restrictions. The hiccup was brief and a boost in the online ticket sales was accelerated.
According to CEO Jody Ford, the performance is pleasing and in line with their expectations even though a short-term impact was witnessed in the fourth quarter due to the new Covid variant.
Ford added that the company is playing a good role amid the industry recovery and commuters are encouraged to take on digital ticketing more to travel by trains.
Trainline launched new features in the United Kingdom for commuters and simultaneously improved their digital railcards. Moreover, the company positioned itself abreast of the rail market liberalization in Europe to help customers benefit from the multiple available choices.
The chief further added that Trainline is the lone platform in France to offer a complete list of rail carriers after the Trenitalia France was added. Similarly, the company launched its first national advertising campaign in Italy to highlight all fares and all trains in a single app.
Trainline witnessed an increase of 89 percent in its UK operations compared to 2020 and the total sales amounted to 1.8 billion pounds. The international sales were 418 million pounds and it was an increase of 85 percent compared to 2020.
The sales improved greatly throughout the year in 2021 and an increase of 99 percent was witnessed in the third quarter compared to the same period of 2019.
The net ticket sales of the last quarter were up by 106 percent compared to the same period in 2020. Meanwhile, the financial 2022 results are learned to be released on May 5.
Trainline was founded in 1997 as Thetrainline.com. It is headquartered in London, UK. It sells railcards and train tickets through a mobile app and website. It is a public company and listed on the LSE. It is simultaneously a component of the FTSE 250 Index.
The technology platform was established by the Virgin Group and it started selling tickets online in 1999. It merged with Qjump in February 2004. Later, in July 2006, the company was acquired by Exponent Private Equity. Next, it acquired ECEBS and Advanced Smartcard Technologies in July 2007. However, the ECEBS was later, in November 2012, was sold to Bell ID.
KKR acquired Trainline in January 2015. A couple of months later the company was renamed Trainline. About a year later it acquired Captain Train.