King Charles III will put an end to the use of the royal train – a symbol of British monarchy since the Victorian era – as part of efforts to reduce costs and modernise the institution.

According to the royal family's annual financial report, published late Monday, the King’s Treasurer announced that the use of two helicopters for royal transport has been approved, while the royal train will be retired due to its high maintenance costs.

The process of phasing out the nine-car royal train will begin next year, the report states.

James Chalmers, known as the Keeper of the Privy Purse and King’s Treasurer, described the decision as a demonstration of “financial discipline.”

The Sovereign Grant – the state subsidy that covers official duties and the maintenance of royal estates – remains at £86.3 million ($118.5 million) for the financial year ending March 2025. It is expected to increase to £132 million the following year.

King Charles bid farewell to the train with "his most sincere gratitude," noting that the composition included a carriage built specifically for him in the 1980s.

“The Royal Train has, of course, been part of national life for decades and has been cherished and diligently maintained by all those involved in its operation,” Chalmers said.

“And just as many other aspects of the royal household have been modernised and adapted to the contemporary world, now is the time for a warm farewell – guided by discipline and a vision for the future in the allocation of funds,” he added.

The report comes at the close of a financial year in which the King resumed public duties despite his cancer diagnosis and ongoing treatment.

His daughter-in-law Catherine, the Princess of Wales and wife of heir apparent Prince William, was also diagnosed with cancer in 2024, but later entered remission.

“The King has shown remarkable resilience by undertaking a wide range of public and state engagements both at home and abroad while continuing his treatment,” Chalmers noted.

The royal train boasts a long and storied history. Carriages for royal use were first introduced during the reign of Queen Victoria in the mid-19th century.

In 2020, Prince William and Princess Kate undertook a 2,000-kilometre tour aboard the train to thank frontline workers during the COVID-19 pandemic.

The coffin of Queen Elizabeth II – Charles’s mother – was originally planned to be transported by royal train from Scotland to London after her death in 2022, but the plan was cancelled due to security concerns.

Last year, an investigation by British media sparked public outcry after it revealed that royal properties had been profiting from the National Health Service, charities, and private tenants – while simultaneously benefiting from generous tax exemptions. | BGNES, AFP