Nottingham Express Transit has recorded its smallest loss since the year ending 2016 as efforts to improve the financial performance of the network, coupled with an increase in passenger numbers, start to be seen.
The latest accounts of Nottingham Trams Limited cover the 12 months up to the end of March 2025 and the highlights show:
- £1.9 million loss (the previous year saw a £26 million loss)
- Passenger journeys are up to 300,000 and are more in line with transport bosses expectations -15.7 million journeys were recorded
- Operational turnover increased to £67.1 million (up £3 million)
Tim Hesketh, CEO of Tramlink (operator of the network), said: “This year’s figures are indicative of a stable year that’s in line with the performance we expected following our financial restructuring two years ago.
“For the second year running this has proven the project to be a success, and we’d like to thank the Department for Transport and Nottingham City Council for their support throughout the process.
“Alongside our financial reporting, it’s reassuring to see that our passenger numbers are continuing to increase. As well as more people using the network, our most recent customer survey also showed that satisfaction rates have risen 17% year-on-year since 2023, which is fantastic to see alongside this positive trend.”
The news of this improved performance comes at a time when the future of the tram network, and possible expansion, is being considered. The newly formed East Midlands Mayoral Combined Authority will take responsibility for the trams from 2034 and they are currently looking at the future of transport in the region, which could include new tram lines.
Tim Hesketh has recently been talking to the Nottingham Post where he has also put his thoughts for the future. This includes a suggestion that with the original trams likely to be coming towards the end of their operational lives in the next 10-15 years that consideration could be given to battery operated trams (similar to the technology now seen in the West Midlands), with a suggestion that this could be used for a line to East Midlands Airport (although this is not thought to be an extension being looked at currently).