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Share Name Share Symbol Market Type Share ISIN Share Description
Go-ahead Group Plc LSE:GOG London Ordinary Share GB0003753778 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 0.07% 694.50 700.00 706.00 720.00 694.00 720.00 53,616 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 3,898.4 -0.2 -66.5 - 300

Go-Ahead Group PLC GTR ERMA extension

17/06/2021 7:00am

UK Regulatory (RNS & others)


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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June 17, 2021 02:00 ET (06:00 GMT)

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