Trainline says Middle East tensions hitting European rail bookings
Profits jump to £122m at ticketing retailer but it expects flat or declining revenues over the coming year
AI Summary
Trainline reported operating profits of £122m, up 43% year-on-year, but expects flat or declining revenues ahead due to Middle East geopolitical tensions reducing foreign visitors to Europe and affecting air traffic into the continent. The company cited uncertainty around summer travel plans and concerns about global jet fuel supply as factors impacting rail ticket sales, with additional headwinds coming from UK government plans to freeze rail fares and create its own ticketing website. Trainline's share price dropped sharply following the cautious earnings guidance.