Transport for Wales (TfW) has seen a continued increase in people using the rail network and bus network it controls, improved customer satisfaction and another increase in rail revenue.
TfW's 2025/26 Annual Report shows:
- 8.9% rail revenue increase on last year, with rail revenue increasing steadily since 2022/23. This year, it stood at £190.3 million.
- 87.7% customer satisfaction up 3.3 percentage points on last year.
- 34.9 million rail passenger journeys (annual increase above UK industry average)
- 5.2% increase in passengers on TrawsCymru services, managed by TfW
As well as growing the passenger figures, Transport for Wales has continued to achieve key infrastructure milestones with the completion of electrification of 170km of the Core Valley Lines as part of the South Wales Metro and the official opening of the Walnut Tree Depot at Taff's Well.
Rail journeys through pay-as-you-go ticketing hit 3.94 million in 2025/26 and TfW is continuing to roll this out on more of our network, currently in the North East of Wales.
Train performance on the Core Valley Lines (owned by TfW) has continued to improve with 92.6% of trains running on time to three minutes, which is up from 85.7% in 2024/25.
Welsh Government Deputy Minister for Transport, Mark Hooper, said:
“Transport for Wales is doing an exceptionally good job in improving passenger experiences across Wales, which is a great base for us to build upon to keep moving in the right direction.
“Together, we will continue to build a more integrated and better-connected transport network—delivering reliable, accessible, and value-for-money services that improve people's daily lives across Wales.”
Vernon Everitt, Transport for Wales Chair, said:
“Transport is about delivering for the people, communities and businesses we serve.
“For Transport for Wales, this has been a year of steady and sustained improvement in transport and of laying the ground for further progress. We realise there is much more to be done. This will benefit people in every part of Wales for generations to come.
“More and more people are using our services and customer satisfaction is rising. We look forward to continuing on this upward trajectory and delivering for the people of Wales.”
James Price, Transport for Wales CEO, added:
“Ten years ago, Transport for Wales was an idea on a whiteboard in a Welsh Government office.
“We are now a fully-fledged transport company employing over 4,500 people and running the Wales and Borders rail franchise. We've transformed the Core Valley Lines through delivery of the South Wales Metro and we're operating TrawsCymru and fflecsi buses.
“Most importantly, our passenger numbers are continuing to grow, with our rail passenger numbers up 9.9% on last year while bus passenger numbers on services we manage have grown by over 5%.
“Over the coming years, we'll keep building and providing for the people of Wales.
“I'd like to take this opportunity to thank all our customers, colleagues and partners who are on this journey with us.”
For the full annual report visit: Annual report 2025/26 | Transport for Wales
