 Thames Trains say they have increased passenger numbers by 40% |
Thames Trains has become financially self-sufficient, joining a limited number of train operators running without government subsidy. The company, which runs commuter services through the Thames Valley, had promised to phase out subsidy as part of the privatisation deal in 1996.
Management say they have achieved the goal by increasing passenger numbers over the last six years by 40%.
Michael Hodson Managing Director of Thames Trains, commented: "We are delighted that our six-year programme to achieve commercial independence has succeeded.
"At a time when the Strategic Rail Authority is expressing concerns about the rising cost to the public purse of supporting the rail industry, Thames Trains has demonstrated what can be achieved."
The Thames franchise runs out in a year's time. In the first year of it's franchise, Thames Trains was supported by a �34m subsidy, which decreased each year until it reached �4.3m last year.
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