Scotrail profits would pay for proposed £3m compensation

Scotrail profits would pay for proposed £3m compensation

23 January 2017

RMT Press Office:

Scotrail profits would pay for proposed £3m compensation three times over says RMT Union.

Following recent Scotrail claims that they don’t know how they will be able to pay for the £3 million scheme of a free week for passengers with monthly and annual passes proposed by the Scottish government, new research by rail union RMT has found that Scotrail retained  profits could pay for the cost three times over.
Most recent retained profits were £9.1m. An amount that the union said could also be used to fund a year on year 3.8% fare cut if the service was nationalised as soon as possible
The latest available company returns (31 December 2015) for Abellio Scotrail Ltd show that:
•        Operating profit was £12.9
•        Turnover was £485.7m (including revenue grant from Transport Scotland of £219.8m)
•        Passenger Income was £240.3m
•        Profit after tax was £9.5m
•        Retained profits of £9.1m
Mick Cash, RMT General Secretary, said:
"These figures show that Scotrail can easily afford to fund the compensation scheme, but more importantly Dutch owned Scotrail are taking the equivalent of a £1000 an hour out of Scottish railways that could otherwise be used to reduce fares.
“Passengers cannot afford to wait any longer and the Scottish government should take steps to bring the service back into public ownership as soon as possible."

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Tagged with: scotrail, abellio, profits, compensation