# London Tube strikes and rail fare freeze held back sales growth, Trainline says

By Russ Mould — 2026-09-11

As Trainline announced that its ticket sales growth was held back this year – with UK consumer net ticket sales of £2.1 billion for the six months to the end of August, similar to the previous year – Russ Mould, investment director at AJ Bell, believes that it’s ‘drip pricing’ method has not helped the situation.

He said: “Having been derailed last month by news of a probe by the competition authorities, Trainline shares got back on track following its latest trading update.

“Today’s statement confirmed the company is engaging with the regulator and also confirmed full-year guidance. The unveiling of a new share buyback is a display of confidence in its prospects and may reassure some investors that the worst-case scenario from this regulatory intervention won’t come to pass.

“The main negative was that ticket sales stalled in August which Trainline blamed on heatwaves, TfL strikes and the government freeze on fares. The company is at a fork in the tracks as CEO Jody Ford prepares to step down at the end of this month to be replaced by Ian Brown.

“Trainline is under scrutiny for ‘drip pricing’ where a lower headline price is advertised but mandatory fees are dripped like water from a leaky tap into the price you pay at checkout. Specifically, Trainline’s practice of not showing its booking fees up top has created concern.

“There are twin-track risks around the issue – one is that Trainline might be forced to pay compensation or a punishing fine and two that if it’s forced to display these fees at the outset it might hit transaction values.”

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