SVR's 'crucial' survival fund edges up but 'thousands more' needed amid escalating costs and lower revenue
The managing director of the Severn Valley Railway (SVR) has highlighted how "crucial" its Survival Fund is but that "thousands more" are needed before the fundraising appeal to reach its target.
SVR launched its appeal in April after the heritage line reported a "double whammy" of escalating costs and lower revenue.
At its launch, the £1.5 million appeal was described as being "necessary for the survival" of the railway, which announced redundancies earlier this year.
Three months on, the Survival Fund has now reached £390,000, but the boss of the railway says a lot more is needed.
Managing director Jonathan 'Gus' Dunster said the success of the steam and diesel galas in the autumn and spring show how important such events were for the railway's future, but added: "Our Survival Fund appeal is going to be crucial in ensuring that happens.
"We’ve received thousands of donations, and we’re hugely grateful for every one of them. But we need thousands more to reach our target of £1.5 million.
“This fundraising, along with further successful events and meticulous management of costs, will be what makes the difference to the SVR’s survival.”
He said that "commercial diversification" was also set to be crucial for the Railway’s recovery plan.
“The pre-Covid business model for heritage railways is no longer viable and we need to ensure we have other commercial activities in place to support our core activity of running heritage trains," he said. "Since taking over as managing director in March, I have been looking to broaden even further our commercial relationships with main-line operators."
He also announced an additional morning service on Saturdays that will operate at 10.30am from Bridgnorth to Hampton Loade (10.55am) and Highley (11.05am) from July 22 to September 2.
“The additional train will enable passengers to be ‘out’ on the line earlier in the day, if starting their day at Bridgnorth, and so enhance their experience while they are with us," said Mr Dunster.
"It will run on Saturdays only because this is our busiest day of the week, and we are expecting higher numbers during the peak summer season.
“We hope that it will successfully attract enough passengers to join the railway at Bridgnorth to cover its costs and, importantly in view of the railway’s financial situation, also make some additional profit. If this timetable proves popular, we will look to add it on other dates.”
