Go-Ahead Group PLC GTR ERMA extension (2173C)
17 June 2021 - 04:00PM
UK Regulatory
TIDMGOG
RNS Number : 2173C
Go-Ahead Group PLC
17 June 2021
The Go-Ahead Group plc 4 Matthew Parker Street,
London, SW1H 9NP
Telephone 020 7799 8999
PRESS RELEASE
17 June 2021
THE GO-AHEAD GROUP PLC
("GO-AHEAD" OR "THE GROUP")
GTR contract extended to March 2022
The Department for Transport (DfT) has extended GTR's Emergency
Recovery Measures Agreement (ERMA) under the same contractual
terms, from its current end date of 20 September 2021 until 31
March 2022.
GTR's ERMA, which generates a margin of up to 1.5 per cent, is a
management contract with no financial exposure to passenger
volumes.
Around 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:
" The extension of this contract recognises the vital role GTR
plays in connecting communities and enabling their green and
sustainable economic recovery. More people are using our rail
services now than at any time during the pandemic, and we look
forward to welcoming more customers back in the months ahead."
Patrick Verwer, GTR CEO, said:
"We welcome today's announcement. Everyone at GTR is focusing on
providing a safe and reliable service to customers as they continue
to come back to their rail services over the next few months. We
are working in collaboration with the DfT, the industry and our
stakeholders to reconnect people and communities, improve
performance and meet the needs of all our customers."
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, typically 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 24 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 per cent
owned subsidiary, Govia, which is 35 per cent 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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END
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