23rd March 2012
In this issue:- Industry developments this week
- New rail services
- Other stories in the press
- Holding group sharecheck
Industry developments this week
Chancellor of the Exchequer George Osborne has used his 2012 Budget to fund Northern Hub programme works. Transport Briefing
Private Eye has described the new Department for Transport’s McNulty response as the “latest steaming pile of manure, laughably called a ‘Command Paper’.”
Greater Anglia has apologised for its performance in its first month running services in the eastern counties. BBC News
ScotRail is due to be paid more than £2 million in compensation for train delays encountered during two successive winters of freezing temperatures and heavy snowfall. The Herald
- A comment piece in The Herald argues the system of rail delay payouts “have become part of a compensation merry-go-round that is no longer serving passengers, or the industry”.
New rail services
The RMT union says it has ended discussions with London Underground over an £850 bonus being offered to Tube workers during the Olympics. BBC News
Other stories in the press
Gatwick Airport needs better rail links if it is to compete with Heathrow, a new report says. BBC News
A survey by Which? magazine has found passengers consider Virgin Trains to be “the best train company”, while Southeastern is considered the worst. Press Association
Rail unions have warned starting and finishing cross-border train services in Edinburgh and Glasgow would drive passengers off the railways. The Scotsman
Holding group sharecheck
Summary:
National Express shares soared after it posted strong 2011 results, up 12% to £180m, despite a greatly reduced rail operation. The group moved from reporting losses to record profits in two years. Financial Times
Go-Ahead is to start making contributions to the Treasury’s funds from April after reporting strong growth in its rail division. Daily Telegraph
- Shares in the group rose by almost 5 per cent in late December after it raised full-year operating profit forecasts on the back of strong passenger growth at its rail franchises.
