Profits were slashed at Transpennine Express during its latest financial year despite the train operator receiving almost £260m from the government.
Newly-filed accounts with Companies House have revealed the firm's pre-tax profits slumped from £72.1m to £8m in the 12 months to March 31, 2022.
Transpennine Express received a revenue subsidy from the Department for Transport of £259.3m, down from £325m.
