Nottingham tram operator cuts losses as passenger numbers rise

Tramlink Nottingham, the company which owns the city’s tram network, has cut its losses, according to newly filed accounts.

The company, which runs Nottingham’s trams on behalf of the City Council, says it lost £18.8m for the year ending 18 March, down from £48.5m losses in 2017.

Turnover was up marginally from £60.6m to £61.5m.

Passenger numbers rose across the year, up from 16.4m to 17.8m.

The accounts showed that Tamlink breached covenants on loans it had taken out, but that agreements were now in place for alternative repayments.