Downtrading hits revenue as passengers seek lower fares
INCOME from fares during the first three months of 2023 was £2.2 billion, bringing the total for the financial year to £8.6bn. These statistics are compiled by the Office for Rail and Road (ORR) and published on a quarterly basis.
When comparison is made with the same quarter four years ago, which was the last comparable period before Covid travel restrictions were in place, there is a shortfall of £1.0bn, meaning that income amounted to 70% of that received in the first three months of 2019.
Journeys have recovered at a far faster rate with 389 million rail users recorded compared to 443 million trips made four years ago, despite nine strike days that affected a number of train operators. The figure represents an 88% volume recovery and the difference between the two figures is reflected by an average ticket payment of £5.67, compared to £7.12 when the 2019 figure is adjusted for inflation.
In addition to passengers paying less, journeys are also shorter than
