Mobico Group (LSE:MCG), the international public transport operator, has completed the signing of revised contracts with five Public Transport Authorities in North Rhine-Westphalia and adjacent regions, formalising changes first outlined in January.
The Rhein-Münsterland Express contract, covering lines RE 7 and RB 48, has converted to a gross contract structure from 1 January, stripping revenue risk from Mobico and aligning terms with current industry norms.
The contract term has also been extended by two years, running to 2032.
For the loss-making Rhein-Ruhr-Express contracts, covering lines RE 1, RE 4, RE 5, RE 6 and RE 11, the revised agreements shorten the remaining term by three years, with the contracts now ending in 2030 to allow coordinated retendering in line with North Rhine-Westphalia's regional transport plan.
The changes implement the structural overhaul Mobico set out on 29 January.
