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.”