Councillors Page, Brock & Emberson / Director of Resources

This report sets out an operational update from Reading Transport Limited, as part of the company’s reporting obligations to the Council as shareholder.

The Director of Resources submitted a report providing the Committee, acting in its role as shareholder of Reading Transport Limited (RTL), with an operational update on the company.  The update was attached to the report at Appendix 1.

The report noted that RTL was a wholly-owned company of Reading Borough Council.  The company’s Articles of Association set out its obligations in terms of reporting to the Council as Shareholder as well as the matters which were reserved to the Shareholder.  The Operational Update had been submitted by the Company in respect of its reporting obligations.

The report explained that key points in the update included the acquisitions by RTL of Newbury and District Ltd in September 2018 and Courtney Coaches Ltd in April 2019, both of which were operating as subsidiaries of RTL.  The update also noted that new ticketing technology, the roll out of contactless payments and the introduction of a phone app during the period had reduced boarding times, although journey times on some routes were still suffering due to congestion.  The Company proposed to continue with its fleet replacement programme (10% per annum) ensuring the fleet remained fit for purpose.

Resolved –

That the Committee, acting as shareholder of RTL, note the Operational Update attached to the report at Appendix 1.