Question 1

What date does the CMA investigation into the presentation of certain UK fees relate to in the catalysts list?

Accepted Answer

The catalysts list states that the CMA investigation into the presentation of certain UK fees was flagged on 19 August 2026.

Question 2

How much shares did Trainline repurchase and cancel since launching its share buyback in September 2023?

Accepted Answer

Since launching its share buyback in September 2023, Trainline repurchased and cancelled £350m of shares, about 28% of issued share capital.

Question 3

When does Trainline expect its FY2027 full-year results to be published?

Accepted Answer

Trainline’s FY2027 full-year results are scheduled for publication on 6 May 2026 for the year to 28 February 2027.

Question 4

What does the Office of Rail and Road’s draft Retail Code of Practice require Great British Railways (GBR) to do for online retailers?

Accepted Answer

ORR’s draft Retail Code of Practice would require GBR to give non-GBR online retailers fair, transparent and non-discriminatory access to fares, products, systems and related services, and would bar GBR from giving its retail arm an undue advantage.

Question 5

How did Trainline’s UK Consumer net ticket sales perform in the six months to 31 August 2026?

Accepted Answer

Trainline reported UK Consumer net ticket sales were flat year-on-year at £2.1bn for the six months to 31 August 2026.

Question 6

What is the CMA investigation focusing on regarding Trainline’s fee presentation?

Accepted Answer

The CMA is scrutinising how mandatory fees are displayed on the booking journey, including whether they appear upfront or later as “drip pricing”; it is an information-gathering phase and has not concluded any breach.

Timeline

Trainline

ORR consults on rail ticket rules under GBR

Trainline maintains 2027 guidance, launches £100m buyback

Shore Capital says Trainline sell-off overdone after CMA probe

Trainline faces CMA probe over fee disclosure

Panmure Liberum reiterates 'buy' on Trainline after Ian Brown CEO appointment

Trainline sets FY2027 guidance after FY2026 profit rise

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