You are using an older browser version. Please use a supported version for the best MSN experience.

Trainline shares jump 20% after group boosts outlook as rail travel recovery remains on track while airports stall

This Is Money logo This Is Money 06/07/2022 Jane Denton For Thisismoney

Trainline shares surged by more than 20 per cent on Wednesday after the group boosted its annual outlook on a strong bounce in European rail travel.

The recovery in rail travel, which was hit hard by lockdown restrictions during the pandemic, comes at a time when British and European airports are awash with chaos and flight cancellations due to severe staff shortages at a time of sky-high demand. 

Trainline, which sells train tickets and railcards and operates across 45 countries in Europe and the UK, saw net ticket sales rose 16 per cent on pre-pandemic levels in the four months to June.

Upbeat: Trainline has hiked its annual forecasts amid a strong recovery in rail travel © Provided by This Is Money Upbeat: Trainline has hiked its annual forecasts amid a strong recovery in rail travel

Trainline shares were up 20.99 per cent or 59.18p to 341.08p in late morning trading, after plummeting last year.

Boss Jody Ford, said: 'Not only is domestic rail travel rebounding at an impressive rate across Europe, but tourists are also returning strongly, with Americans leading the way.'


Video: Train Stations Fall Quiet Amid Second Major Rail Strike Original Video M215621 (The Independent)

UP NEXT
UP NEXT

The group now expects revenue growth of between 22 per cent and 31 per cent for the financial year ending February 2023, when compared against pre-pandemic fiscal 2020.

Russ Mould, investment director at AJ Bell, said: 'An increase in tourists visiting Europe has led to greater demand for tickets and no doubt the chaos across airports has encouraged more people to travel by rail than plane.'

Some customer using Trainline may be charged a booking fee, but the fee can vary. 

On its website Trainline says: 'The booking fee you pay is calculated depending on whether you book on our website or on our app, when you are purchasing your ticket, and the value of your ticket. 

'We are also continually testing changes in our product, which means some customers may have a slightly different experience to others while tests are in place.'

AdChoices
AdChoices

More From This is Money

image beaconimage beaconimage beacon