5th April 2012In this issue:
- Industry developments this week
- New rail services
- Other stories in the press
- Holding group sharecheck
Industry developments this week
Officials in the north-east of England are preparing plans to devolve rail franchising in the region. Sunderland Echo
The coalition’s long-term spending settlement with London’s lead transport body would be thrown into doubt if Ken Livingstone, Labour’s candidate for mayor, were to make good on his pledge to slash fares, the transport secretary has told the Financial Times.
- The Green Party mayoral candidate has pledged to cut the cost of fares and invest in public transport, if she is elected. BBC News
New rail services
Transport for London plans to operate Crossrail as a concession in similar style to London Overground. Transport Briefing
Other stories in the press
The Times contrasts Network Rail chief executive David Higgins’ abortive bonus with National Express chief executive Dean Finch’s pay and bonus package, which exceeds £1million.
More than a quarter of women do not feel safe using London public transport even in the day, a YouGov survey suggests. BBC News
Constraints on rail access to Gatwick Airport have emerged as a major obstacle to any future expansion of the airport. Transport Briefing
Delays on the London Underground are ‘at their lowest’ since 2003/4, Transport for London has said. Rail.co
Holding group sharecheck
Shares in FirstGroup sank 14 per cent last week after a warning by the transport company that margins in its UK bus business would fall by more than a third this year. Financial Times
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.