Trainline shares tumble after boss disembarks
It’s the end of the line for the boss of Britain’s best-known rail ticketing app after Trainline chief executive Jody Ford said he would be quitting the business.
Ford, who has been at the helm of the FTSE 250 company for more than six years, said he would stay in post until a search to identify a successor was completed.
The departure triggered a sharp downturn in Trainline’s shares, with the stock falling by more than six per cent to 190p early on Wednesday.
Ford, who took over the running of the business just before the pandemic, oversaw a turbulent period for Trainline. The exec’s leadership coincided with a doubling of net ticket sales in the UK and International consumer businesses, more than doubling profits and growing new markets in France, Spain and Italy.
But the stock has fallen by more than a third over the past year as the company fought competition from rivals and shareholders weighed the prospects of rail nationalisation plans in the UK.
“This would be the right time to handover to new leadership,” Ford said. “I will work closely with the board and my outstanding team over the coming months to ensure a smooth transition.”
In its latest results, Trainline posted an 8 per cent jump in net ticket sales with revenue rising two per cent to £235m for the six months to end August 2025.
Rail nationalisation plans gather pace
Last year, the company warned it would have to compete with a new government super-app.
The London-based business pointed to a clarification made by the government in its rail industry consultation, in which it said it planned to combine the ticket booking apps of all the different UK railway operators into a single retail app.
That would allow consumers to find and buy the best tickets all on a single app regardless of the route, eroding a key advantage enjoyed by current Trainline users.
Trainline stressed that the new service was unlikely to appear before 2027, adding that it would seek to ensure that the app would be able to compete fairly with its own app.
“The Government is unequivocal in its commitment to a fair, open and competitive market, recognising the central role independent retailers play,” Trainline said.
“The Government has recognised the value of Trainline alongside other retailers in driving innovation and improving experiences for consumers. The Government has consistently outlined its commitment to a fair, open and competitive market under GBR in the future, and we are working constructively with Government to make that level playing field a reality.”
The proposed government app is part of new plans to nationalise British railways, combining a multitude of private operators for different routes and services into a single government-owned company, known as Great British Railways.