‘Fat cat’ rail CEOs will earn up to £4.2M this year

As customers deal with record tariff rises, cancellations, and strikes this year, train executives are expected to earn multi-million pound pay packages.

Some bosses may make up to £4.2 million, according to a Daily Mail investigation, despite a year marred by bad punctuality, engineering work, and the worst strikes disruption in decades – with more to come.

Due to the government’s £16 billion bailout of the railroads during the epidemic, public funds have been used to subsidise the generous salaries.

Additionally, the largest-ever rate rises of between 6 and 8% are anticipated for customers next year.

Despite this, FirstGroup CEO Graham Sutherland is set to receive a compensation package worth up to £3 million.

Avanti West Coast, which the company controls 70% of, cancelled one out of every six services in the four weeks leading up to July 23. Additionally, until further notice, it has scaled down services between Manchester and London.

Christian Schreyer, the CEO of Go-Ahead, may make up to £1.37 million this year. Southern, Great Northern, Thameslink, and Gatwick Express are all owned by Go-Ahead to the tune of 65% each.

If he meets his performance goals, Rupert Soames, chief executive of Serco, which runs the Caledonian Sleeper and partially owns Merseyrail, may receive £4.2 million.

I don’t have anything against large pay packages, but what we’re witnessing on the trains today is anything from first-class as my people struggle to even obtain a seat on rush hour trains, said Tory MP Greg Smith, who serves on the Commons transport committee.

All operators are represented by the Rail Delivery Group, which stated: “We need to pay wages that ensure we can recruit the greatest staff.”