TILO SA

What TILO SA does

TILO SA is a cross-border regional railway operator headquartered in Bellinzona, Switzerland, that provides regional rail services connecting Ticino (Switzerland) and Lombardy (Italy). Founded in June 2004 as a 50/50 joint venture between Swiss Federal Railways (SBB) and Trenord, the company operates seven named rail lines (RE80, S10, S20, S30, S40, S50, S90) plus a weekend night service branded "TILO Pigiama," using a fleet of 53 FLIRT (Fast Light Innovative Regional Train) RABe 524 vehicles. In 2025 the company transported 25 million passengers across 7.8 million train kilometers, with 201 employees as of 31 December 2025.

The company's core operational technology is the FLIRT fleet, comprising 23 four-car, 17 six-car, and 13 six-car TSI units. Technical differentiators include a dual-voltage power conversion system that enables seamless operation across Swiss and Italian networks without technical stops, low-floor entrances with ramps for barrier-free access, dual-voltage power sockets in first-class carriages (Swiss and Italian voltages), and climate-controlled carriages. A Board of Directors with three Swiss and three Italian members governs the JV on three-year terms; CEO Denis Rossi leads management alongside Sergio Olliaro (Finance/HR/Administration) and Christoph Kölble (Timetable and Service Dimensioning).

TILO's revenue model is transaction-based ticketing distributed almost entirely through its parents' channels: SBB counters, machines, SBB Mobile, and sbb.ch for Swiss territory; Trenord counters, machines, trenord.it, and the Trenord app for Italian territory; and the Arcobaleno fare network across Canton Ticino. Streams include pay-as-you-go tickets, cross-border tickets sold in CHF (Arcobaleno) or EUR (Trenord), and recurring travelcard subscriptions for regular commuters. The customer base is horizontal and fragmented across cross-border commuters, leisure travelers, Malpensa Airport passengers, and passengers with reduced mobility. TILO itself maintains no proprietary mobile app and no public API, relying on SBB Mobile and Trenord as the customer-facing digital front end, with light direct marketing via Instagram, Facebook, and LinkedIn for leisure promotion.

Name

TILO SA

Legal name

TILO SA

Website

https://tilo.ch

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

TILO SA is a 50/50 SBB-Trenord joint venture operating cross-border regional rail services between Ticino, Switzerland and Lombardy, Italy. It runs 7 rail lines with a 53-train FLIRT fleet, transporting 25 million passengers annually.

Ownership category

akta.pro rank

Product category

Regional Rail Transportation

NAICS

Commuter Rail Systems (485112), Rail Transportation (4821), Urban Transit Systems (4851)

SIC

Local & Suburban Transit & Interurban Hwy Passenger Trans (4100), Transportation Services (4700)

akta.pro primary industry

Cross-Border Regional Rail Passenger Services (THAIACAH)

akta.pro secondary industries

Commuter Rail Feeder & Branch Line Services (THAIACAG), Regional Rail (Short-to-Mid Distance) Passenger Operators (THAIACAC), Suburban Rail & S-Bahn Operators (THAIACAD)

Keywords

• Regional rail services
• Cross-border transportation
• Passenger rail
• Commuter rail
• Public transit

Headquarters

HQ city

Bellinzona

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Public transport ticketing: Revenue generated from sale of tickets for regional rail services across Ticino and Lombardy, including Arcobaleno fare network tickets, SBB tickets, and Trenord tickets for domestic journeys, as well as cross-border tickets for international travel between Switzerland and Italy.
2. Cross-border tickets: Specialized cross-border tickets and travelcards valid across both Ticino and Lombardy fare networks, sold through Arcobaleno, SBB, and Trenord channels. Arcobaleno tickets sold in CHF, Trenord tickets in EUR.
3. Travelcards and subscriptions: Arcobaleno travelcards and SBB travelcards available for regular commuters, sold at SBB ticket counters and machines, and Arcobaleno partner locations.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

TILO SA operates cross-border regional passenger rail services connecting Ticino (Switzerland) and Lombardy (Italy) using a fleet of 53 FLIRT trains (RABe 524) across eight named lines: RE80 (regional express Locarno-Lugano-Chiasso-Milano), S10, S20, S30, S40, S50, S90 regional services, and the TILO Pigiama night network. Tickets are sold through SBB, Trenord, and Arcobaleno fare network channels, with cross-border ticketing available in both CHF and EUR.

Product overview

TILO SA is a cross-border regional railway joint venture (50% SBB, 50% Trenord) providing regional rail services connecting Ticino (Switzerland) and Lombardy (Italy). The company's core offering consists of seven named rail lines: RE80 (regional express), S10, S20, S30, S40, S50, S90 (regional services), and TILO Pigiama (night service). Operations are conducted using a fleet of 53 FLIRT trains (Fast Light Innovative Regional Train), comprising standard and TSI variants with dual-voltage capability for seamless cross-border operation. Supporting services include cross-border ticketing via Arcobaleno and partner fare networks, bicycle transport, barrier-free travel assistance, station services, mobile applications, and real-time rail traffic information. The product portfolio centers on the rail lines themselves as the primary service offerings, supported by complementary mobility and passenger services.

Differentiator

Problem solved

Functional benefit

Brands

• TILO Pigiama: Night network service operating on Friday and Saturday nights on S10 and S20 lines, allowing night owls to travel home safely in Ticino.
• TILO Night Network

Products and services

• RE80 Regional Express Regional express rail service connecting Locarno, Lugano, Chiasso, and Milano Centrale via the Ceneri Base Tunnel, operating half-hourly between Locarno and Chiasso with hourly extensions to Milano. Targeted at long-distance cross-border commuters and travelers between Swiss Ticino and Milan.
• S10 Regional Service Regional rail service connecting Biasca, Bellinzona, Lugano, Chiasso, and Como via the Ceneri Base Tunnel, operating half-hourly with stops at all regional stations. Serves daily commuters and regional travelers across Ticino and into Como.
• S20 Regional Service Regional rail service connecting Castione-Arbedo, Bellinzona, and Locarno, operating half-hourly with stops at all regional stations. Serves intra-Ticino commuters and travelers in the Bellinzona-Locarno corridor.
• S30 Regional Service Regional rail service connecting Cadenazzo, Luino, and Gallarate, operating two-hourly with stops at all regional stations. Targeted at cross-border travelers between Ticino and Lombardy via Luino; subject to adjusted timetable from April 2026 due to RFI infrastructure constraints.
• S40 Regional Service Regional rail service connecting Como, Mendrisio, and Varese, operating hourly from Monday to Saturday with stops at all regional stations. Serves cross-border commuters and shoppers between Ticino and Lombardy.
• S50 Regional Service Regional rail service connecting Biasca, Bellinzona, Lugano, Varese, and Malpensa Airport, operating hourly with stops at all regional stations. Trains coupled with S10 and separate in Mendrisio. Serves airport travelers and Ticino-Lombardy commuters.
• S90 Regional Service Regional rail service connecting Giubiasco, Lugano, and Mendrisio via the Ceneri mountain route, operating half-hourly with extensions to/from Bellinzona. Serves intra-Ticino travelers on the mountain route corridor.
• TILO Pigiama Night Service Night network rail service operating Friday and Saturday nights on S10 and S20 lines, providing safe travel home for night owls in Ticino with no night supplement charge. Targeted at leisure travelers and evening commuters in Ticino.
• Barrier-Free Travel Assistance Accessibility service for passengers with disabilities, including SBB Call Center Handicap assistance for boarding and alighting in Ticino (free, 1-hour advance notice) and Trenord assistance in Lombardy (48-hour advance notice), supported by low-floor FLIRT trains and mobility lifts at major stations. Targeted at wheelchair users, passengers with reduced mobility, and travelers with visual, hearing, or mental disabilities.
• Bicycle Transport Bicycle carriage service available on all TILO connections, free for folding bikes in Ticino (SBB conditions), free for all bikes in Lombardy (Trenord conditions), and offered via reduced-price Arcobaleno cross-border tickets for conventional bikes. Targeted at leisure cyclists and commuters combining cycling and rail.
• Station Services Station services including ticket counters, ticket machines, money transfer, currency exchange, luggage storage, and P+Rail parking in Ticino, plus a range of services at Lombardy stations. Targeted at passengers using TILO and partner rail services across the cross-border network.

Quantifiable outcome

• 25 million passengers transported in 2025
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Cantone TicinocoreStrategic or Co-development PartnerInstitutional partner representing the Canton of Ticino. Provides regional support and funding for cross-border rail services benefiting Ticino residents.
• Regione LombardiacoreStrategic or Co-development PartnerInstitutional partner representing Lombardy region. Supports cross-border rail connectivity between Lombardy and Ticino.
• ArcobalenocoreStrategic or Co-development PartnerFare network operator covering canton Ticino. TILO services integrate with Arcobaleno ticketing system for seamless passenger travel.
• Railaway FFSminorGTM or Marketing PartnerLeisure partner for promoting train travel and leisure excursions. Offers gite in treno packages in Switzerland.
• Trenord (Leisure)minorGTM or Marketing PartnerLeisure partner for promoting train trips (gite in treno) in Lombardy, offering travel ideas and special excursion packages.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• FNM Group (Ferrovie Nord Milano): Italian regional rail and mobility group operating suburban lines around Milan and into Lombardy. Comparable as a regional rail operator operating on similar Lombardy trunk infrastructure to TILO, with suburban Malpensa-area services that compete and interconnect with TILO's offerings.
• DB Regio: German regional rail subsidiary of Deutsche Bahn operating S-Bahn and regional services across Germany's federal states. Comparable as a large-scale European regional rail operator under a national-rail parent, providing reference scale and operating model for S-Bahn-style networks.
• Trenitalia: Italian national rail operator providing regional, intercity, and high-speed services. Comparable as the incumbent rail operator in Italy whose regional services overlap with TILO's Lombardy operations and whose subsidiary (Trenord) directly owns TILO.
• SBB CFF FFS (Swiss Federal Railways): Parent company of TILO SA with 50% ownership. Operates the broader Swiss national rail network including long-distance, regional, and freight services. Comparable as the umbrella Swiss rail operator and primary TILO shareholder, providing infrastructure, distribution, and operational support.

Direct peers

• Südostbahn (SOB): Swiss regional rail operator providing cross-cantonal services including into Ticino. Operates modern FLIRT fleet under similar cantonal partnership model, making it a strong comparable for mid-sized Swiss regional rail operators with cross-canton reach.
• Trenord: Co-owner of TILO (50%) and a major regional rail operator in Lombardy. Operates regional and suburban rail services across the same Milan metropolitan and Lombardy territory served by TILO's Italian legs, making it both a parent and the closest direct comparable peer for cross-border Lombardy services.
• Matterhorn Gotthard Bahn (MGB): Swiss narrow-gauge operator running cross-border Alpine services through the Gotthard corridor including into Italy. Comparable as a Swiss cross-border regional operator with cantonal partnership structure serving tourism and commuter traffic in a similar Alpine corridor context.
• Thurbo: SBB subsidiary operating regional rail and cross-border services into Germany and Austria from eastern Switzerland. Directly comparable as a Swiss regional rail JV-style operator running FLIRT trains on S-Bahn-style routes with parent-distributed ticketing.
• Rhätische Bahn (RhB): Swiss regional rail operator running the Graubünden network with cross-border services into Italy. Comparable as a Swiss regional operator with cantonal/regional partnership model, modern rolling stock, and cross-border Alpine services.
• BLS AG: Swiss regional and urban rail operator running S-Bahn and regional services in multiple cantons including Bern. Closely comparable as a Swiss regional rail operator running FLIRT-style fleets on S-Bahn networks with cantonal partnerships and integrated ticketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/100079574583352
• LinkedInlinkedin.com/company/tilo
• Instagraminstagram.com/tilo.sa

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TILO SA