To note the legal structure here
Transdev operate the Luas under a contract from the NTA via the RPA. This is pretty much a fixed price contract with options for bonus/penalties.
The RPA pay Transdev. Transdev's internal finances are pretty much beyond the concern of the RPA and NTA.
RPA are exposed to the market conditions, if demand falls RPA take the bulk of the hit, if demand rises then they do well as does Transdev as they should get a cut of the extra.
So for Transdev to make more money
1. Beat the contract targets
2. Eliminate fare evasion
3. Drive passenger growth
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