Source - LSE Regulatory
RNS Number : 1123F
Go-Ahead Group PLC
17 March 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

THE GO-AHEAD GROUP PLC

 

("GO-AHEAD" OR "THE GROUP")

Department for Transport announces financial penalty in relation to London & South Eastern Railway Ltd

 

 

Go-Ahead announces that the Department for Transport (DfT) has stated that it has issued a £23.5m penalty notice to London & Southeastern Railway Ltd (LSER) in respect of good faith contraventions of LSER franchise agreements.

In its results for the year ended 3 July 2021, published on 24 February 2022, the Group recognised a provision of £30.0m in its accounts in respect of a potential financial penalty from the DfT in relation to LSER.

The amount payable to the DfT is expected to be settled from LSER's restricted cash balance.

 

The person responsible for arranging the release of this announcement on behalf of the Group is Carolyn Ferguson, Company Secretary.

 

ENDS

 

For further information, please contact:

Media - Gavin Bostock, Go-Ahead 

07964 122158

Investors Relations - Holly Gillis, Citigate Dewe Rogerson

07940 797 560

GO-AHEAD
Go-Ahead is a leading public transport operator, connecting communities through bus and rail services. Our purpose is to be the local partner taking care of journeys that enhance the lives and wellbeing of our communities across the world.
We employ more than 27,000 people across our bus and rail businesses in the UK, Singapore, Ireland, Norway and Germany. In addition to the travelling public, our customers include governments and local authorities. We are committed to tackling climate change, poor air quality and social isolation. 

BUS
Go-Ahead is one of the UK's largest bus operators. We run a fleet of more than 6,000 buses across England and run a quarter of London's buses for Transport for London. Outside London, we serve high-density commuter markets in the North East, Greater Manchester, East Yorkshire, Oxfordshire, East Anglia, the South East and the South West of England. We also operate a bus contract in Singapore and two bus contracts in Ireland. 

RAIL
We operate rail franchises in the UK, Germany and Norway. In the UK, we run the country's largest passenger franchise, GTR (Southern, Gatwick Express, Great Northern and Thameslink). This is managed through our 65 per cent owned subsidiary Govia, which is 35 per cent owned by Keolis UK.  In Germany and Norway, our contracts are run exclusively by Go-Ahead.

 

 

 

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