Arlanda Express
Operator of Arlanda express, Sweden’s flagship high-speed airport rail service.
- Sector
Transport & Logistics
- Country
Sweden
- Fund
EQT Active Core Infrastructure I
- Entry
2026
- Website
- Arlanda Express
- EQT Responsible Advisor
Kunal Koya
Swedish transport operator providing reliable airport rail connectivity in Greater Stockholm, offering a net-zero service and efficient mobility.
About A-Train
A-Train AB is a Swedish passenger rail operator headquartered in Stockholm operating Arlanda express, Sweden’s flagship high-speed airport rail service connecting Stockholm Central Station and Arlanda Airport in 18 minutes. A-Train was created through Sweden’s first major public-private partnership for the Arlanda rail link, with the project agreement signed in 1995 and the service launched in 1999. The concession grants long-term rights to operate the service until 2050, providing a stable framework for operations and long-term investment. Since service launch, Arlanda express has delivered up to six departures per hour with around 99% availability, providing essential, reliable access to Sweden’s busiest airport. Arlanda express runs on 100% renewable electricity and is certified under the Good Environmental Choice standard.
Market trends and drivers
Arlanda Express is a critical infrastructure asset underpinning access to Stockholm Arlanda Airport, capturing airport-driven passenger growth underpinned by long-term macro trends via a fully electric rail service. Structural road congestion on the Stockholm–Arlanda corridor and increasing focus on reliable journey times strengthen rail’s competitive positioning. At the same time, electrification and climate policy ambitions support a structural modal shift toward low-emission transport. As a fast, frequent and fully electric airport rail service, A-Train contributes to reduced road traffic, lower emissions and enhanced regional connectivity.
Board of directors
Chairperson
Alexander Hedderich
CEO
Magnus Zetterberg
Board member
Daniel Perez
Board member
Gebhard Littich
Board member
Jeannine Pilloud
Board member
Nicolas Petrovic
Board member
Pär Nuder
Board member
Rickard Gustafson
Management
CEO
Magnus Zetterberg
CFO
Oscar Leopoldson
Investment potential
EQT will support A-Train through an active, long-term ownership approach focused on enhancing customer experience and operational performance. Key initiatives include implementing a more flexible pricing model to improve affordability and accessibility, improving utilisation of existing capacity, and expanding partnerships with airlines and travel providers. EQT will also support A-Train’s ongoing investment programme to introduce a brand-new high-speed train fleet around 2030, while strengthening digital capabilities and building robust tech and cyber foundations to support long-term, sustainable growth.
Societal contribution
- A-Train supports reliable airport access for sustainable tourism and business travel, helping enable economic activity. The company also promotes good working conditions through its internal Code of Conduct and clear requirements for employees and suppliers.
- A-Train contributes to resilient transport infrastructure by continuously improving, maintaining and upgrading the Arlanda Link and associated services. The company also pursues innovative operational and maintenance solutions to strengthen reliability and performance over time.
- A-Train strengthens public transport connectivity and accessibility in the Stockholm region through a fast, reliable airport rail link. The service operates on 100% Good Environmental Choice-labelled electricity, and the company works continuously to improve energy efficiency.
- A-Train enables lower-emission travel by shifting journeys from road to electrified rail. The company also has an ambition to reach net zero in Scope 1 and 2 emissions through targeted reduction measures, such as transitioning maintenance vehicles to electric alternatives.
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