Spain's national train operator Renfe increases revenue due to record passenger numbers in summer

Spain's state train operator Renfe has improved on last year's heavy losses, and although it is still in the red, the figures are more positive than in 2023. The record number of passengers on its trains has allowed the public operator to increase its overall revenue by three per cent to 2.46 billion euros and close with a loss of 33.7 million, half that of the previous year.

The company explained that these results have been made possible by the implementation of an efficiency plan to increase the competitiveness of the business. In this way, its profitability has improved, with a gross operating profit (Ebitda) 13 per cent higher than the previous year, standing at 207 million euros. The company has created a review group for this plan, which meets monthly and assesses its progress by rail corridors as well as its progression and real effect on Ebitda.

The improvement in results has been greatly influenced by the summer, which has registered a record number of passengers, with 8.1 million users on its AVE, Avlo, Euromed, Alvia and Intercity services, that's 21 per cent more than the 6.7 million users of the same period last year. This figure for the 2024 summer season surpasses the previous record registered in 2019, when it transported 7.2 million passengers, according to a statement issued on Wednesday.

This summer, the destinations with the highest demand were those linking Madrid with Andalucía, followed by Madrid-Catalonia, the Cantabrian coast and the Valencia region. Compared to the previous year, the increase was particularly significant on services to the Cantabrian coast, including Galicia and Asturias, due to the increase in seats as a result of the incorporation of the new Avlo 106 rolling stock, with the maximum capacity on the Spanish rail network.

On the other hand, the AVE high-speed service between Spain and France also consolidated an increase of 55.6 per cent with respect to last year. Renfe launched this international service on 13 July 2023, marking the company's debut as an operator in direct competition in the French market. This summer, more than 257,000 passengers have used the direct AVE International train service, which connects the 15 stations that make up its route map between Madrid and Barcelona and Marseille and Lyon.