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Management Consulting


Transport and Travel

Teneo’s Transport & Travel practice has deep sector expertise in rail, bus, aviation and transport systems, offering strategic advice across the key focus areas of commercial and revenue growth, demand forecasting, bid support, industry and government affairs and transactions.

Within our dedicated transport team, we cover all of the critical strategic topics in the sector today. This includes, but is not limited to, the emerging shift in the structure of passenger demand, the progress of industry reform in rail and bus and the ever-evolving landscape of transport technology.

We are well-connected, working regularly alongside government and key industry stakeholders within all transport modes. We also offer access to deep sector expertise through our network of Senior Advisors and provide a closely integrated advisory approach alongside our colleagues in wider Teneo.

Our transportation and travel clients represent both the private and public sectors and include global transport operators, major airlines and airports, industry leaders in areas including ticketing and transport technology and the government organizations responsible for funding and overseeing the rail, bus and aviation sectors. We help them navigate challenges, develop innovative new propositions and provide robust evidence to support investment and plans for growth.

Who We Support



Supporting Private Operators and Owning Groups; Public-Sector Bodies (e.g., DfT, RDG, GBRTT) and Funders/Investors



Supporting Operators; National and Regional Government; Funders and Manufacturers



Supporting Airlines; Airports; Government and Investors Across the Value Chain


Transport Systems

Supporting Technology and Software Providers in Retail; Ticketing and Infrastructure

How We Support You

Commercial strategy

We build compelling and evidence-based analysis to support recovery of the farebox, driving incremental demand or delivering efficiency in the cost base.

Example Case Study

Teneo was engaged to perform a thorough assessment of the growth opportunities for a UK rail franchise. Our work played a central role in helping our client understand and deliver on revenue growth opportunities, which spanned fares, technology and customer improvements.

Demand and economic forecasting

We have a deep, detailed understanding of the economic and competitive impacts on demand for travel and provide bespoke forecasting of the impact of changes in fares, timetables, airline schedules and customer proposition on demand and revenue.

We have specific expertise in industry-standard forecasting for the rail sector (we are Associate Members of PDFC) and have developed leading forecasting techniques for the aviation sector (publishing a quarterly aviation demand forecast).

Our strategic demand forecasting approach considers inputs from a range of public and proprietary data sources, political and economic insights and our own in-house sector expertise. We present our outputs in a simple and straightforward manner, focusing on key messages over technical nuance to support decision-making at all levels.

Example Case Study

Teneo supported GBRTT in developing a bespoke forecasting structure for the rail industry’s outlook post-pandemic and a reporting framework to allow senior rail industry stakeholders to monitor the recovery of ridership.

Example Case Study

We leveraged our demand forecasting expertise to diligence the short and long-term financial position of a major airline on behalf of a government lender. On the basis of demand, we assessed and adjusted the business’ revenue forecast to calculate the cash flow impact in a number of future scenarios. We built a realistic view of the airline’s likely revenue in a range of scenarios, which allowed the lender to properly assess the case for provision of extended financial support.

Bid strategy

Helping operators and the supply chain secure mission-critical contract opportunities, both in the transport sector and beyond. 

Our strategic bid support team supports clients pursuing B2G and B2B tendered opportunities across multiple sectors. We support clients bidding for rail operating contracts, bus franchises, critical transport technology contracts and construction and supply chain opportunities. 

We offer comprehensive end-to-end bid support, including designing the bid organization and governance structure, determining the bidder’s strategic USPs, structuring bid responses, preparing supporting evidence and authoring the response itself. In addition, we assist our clients in building their commercial and pricing strategies and navigating the crucial phases of competitive dialogue and negotiation.

Example Case Study

Teneo has supported multiple franchise and concession processes in rail and bus – preparing bids for DfT, TfL, TfGM and many other major UK and international transport authorities. Most recently, Teneo supported the bus franchising program in the North of England, supporting a private sector operator bidding for one of the largest bus operating contracts in the UK.

Reform and industry change advisory

We guide our clients as they navigate industry reform and structural change, developing a narrative and evidence base to support engagement with the most senior industry and government stakeholders. 

We support private sector participants in articulating and delivering on, their role in a post-reform transport sector. This helps to make the case for competition, innovation and access to investment.

Example Case Study

Teneo supported a third-party ticket retailer in the development of a core narrative, supporting evidence and stakeholder engagement strategy for a major structural review with the industry’s licencing body.

Transaction support

We offer wide-ranging diligence expertise for M&A and refinancing. We provide due-diligence services in support of a range of commercial and financial transactions, either end-to-end or at specific stages of the process.

Example Case Study

Teneo conducted diligence of a leading airline’s short- and long-term financial position to consider extended financial support, including assessment of the revenue forecast to calculate cash flow impact in several future scenarios.

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