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Rail reforms will surely reroute Trainline’s profit margins to head south

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Before Thursday’s white paper Trainline’s ability to continue extracting 5% commissions on ticket sales seemed assured

Farewell, Trainline, you made a handful of executives, backed by the private barons of KKR, very rich, but now Grant Shapps, the transport secretary, has your number.

That, at least, is a possible reading of the ticketing shake-up within the rail reforms that will create Great British Railways. The new “fat controller” body will launch its own website and app to sell tickets, which looks a case of parking its locomotives in Trainline’s shed.

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