Royal Mail fined £10.5m for missing delivery targets

Published On Dec 13, 2024, 2:11 AM

Royal Mail has been fined £10.5 million by the UK communications regulator Ofcom for failing to meet service delivery targets for both first and second-class mail for the second consecutive year. For the delivery period of 2023-24, only 74.7% of first-class mail and 92.7% of second-class mail were delivered on time, falling short of the targets of 93% and 98.5%. Ofcom criticized Royal Mail's inability to justify its poor performance, attributing it to insufficient efforts to prevent service failures. The situation worsens as Royal Mail's parent company, International Distribution Services, is facing a potential takeover by Czech billionaire Daniel Kretinsky.