I’m confused. That tweet says there is a profit cap, whilst the tfw homepage says “Transport for Wales is a not for profit company, wholly owned by the Welsh Government.”
Is there a profit allowance built in for KA but not for tfw? Assuming so the minute KA take a profit the press will have a field day. Not very transparent
Shouldn't it say something like 'TFW is a not for profit company who form part of the franchise, KeolisAmey forms the other part who are a profit making company. The franchise has adopted the brand name Transport for Wales' ?