30th July 2012
In this issue:Industry developments this week
FirstGroup‘s bid for the West Coast franchise is 15-20 per cent higher than Virgin Trains’, establishing it as a clear frontrunner, The Guardian claims.
An invitation to tender has been published for the next Great Western franchise, after delays of several months Railnews
New rail services
Plans for a new fleet of intercity express trains that will provide 21st-century travel for rail passengers, as well as create up to 900 jobs, have finally been announced by the Government after years of delays. The Times
- Also covered in the Financial Times
Other stories
Transport for London has outlined post-Games plans to reduce London Underground delays by 30% in order to meet an election commitment made by the Mayor of London earlier this year. Transport Briefing
The head of High Speed 2 has hit out at opponents questioning its economic case, accusing them of skewing the debate by relying on data designed to assess “a little roundabout scheme”. Financial Times
The Heathrow Express to central London was suspended on the eve of the Olympics, the busiest day in the airport’s history. Evening Standard
Finance, business and sharecheck
Summary:
National Express has seen its rail profits fall by 43 per cent following the loss of the East Anglia franchise. Rail.co
- But the transport group said a “reassuringly stable” performance in Spain had helped it maintain steady trading in the period, reports the Financial Times
- Rosie Jacobs in the same paper describes National Express as being “on the right track”.
Shares in Eurotunnel fell almost 6 per cent after the operator of the Channel tunnel said half-year operating profits had sunk in spite of a strong surge in revenues. Financial Times
