Trainline posts H1 loss as Covid lockdowns hammer ticket sales

Online ticketing platform Trainline reported a first-half pre-tax loss as sales plunged during the coronavirus lockdown.

The company posted an operating loss of £43m in the six months to August 31, compared with an £8m loss a year earlier.

Revenue plunged 76% to £31m due to the significant effect of lockdowns and containment measures across Europe and the UK on rail passenger numbers during the period.

Net ticket sales were £358m compared with £1.84bn the year before.

"We see no change to the long-term structural tailwinds for Trainline," said chief executive Clare Gilmartin.

"Rail is a large market with significant government investment planned over the next decade, growing environmental awareness of its benefits compared to air or car, and considerable runway for train tickets to shift online and to mobile."

“Covid-19 continues to cause significant disruption to the rail and coach industry as regional and national lockdowns are put in place across Europe.”