South Western Railway performance nosedives after nationalisation Transport and infrastructure Performance at South Western Railway has plummeted in the months since it became the first network to be brought under state ownership, piling fresh scrutiny on the government’s nationalisation drive just days after it announced the lines that will be taken public next. Delays and cancellations both rose sharply over the three months after it [...]
Firstgroup shurgs off rail nationalisation with open access growth Transport and infrastructure Firstgroup shares soared more than eight per cent on Tuesday after the transport giant reported a bumper set of annual results. Profit came in ahead of expectations as management launched a £50m share buyback programme. Shares are now up close to a third this year to date. Also encouraging for investors was “further growth in [...]
Open access is ‘key priority,’ says Firstgroup boss Transport and infrastructure Firstgroup is pushing ahead with plans to expand its open access offering despite fears over a government clampdown. The transport giant on Monday announced it had leased five Class 222, six car diesel trains after signing an agreement with rolling stock firm Eversholt Rail. It intends for the 340-seat trains to be used on a [...]
South Western becomes first rail service renationalised under Labour May 25, 2025 The government’s renationalisation of rail services has started as trains operated by South Western Railway (SWR) were taken into public control. Transport Secretary Heidi Alexander, who travelled on the first renationalised departure from London Waterloo, said it was “a new dawn for our railways”. SWR was previously owned by Firstgroup and MTR Corporation, but is [...]
‘A failed operator’: CrossCountry repeatedly missed own performance targets despite cutting services March 28, 2025 Struggling rail operator CrossCountry has repeatedly breached its own performance targets despite cutting services late last year as part of a recovery plan, City AM understands. The former Transport Secretary, Louise Haigh, approved proposals by the operator to run a reduced timetable for three months between August and November after its performance was labelled “dire.” [...]
Could bats put East West Rail off track? March 18, 2025 East West Rail could provide a direct connection between Oxford and Cambridge for the first time, but opposition to the project is growing.
Exclusive: HS2 should not re-negotiate contracts, says Balfour Beatty boss March 13, 2025 A scathing report from the Public Accounts Committee (PAC) last month concluded HS2 Ltd's contracts were "unacceptable to the public purse" and that it was "imperative" the project delivered on its assurances to re-negotiate them.
Firstgroup and Virgin push back against state clampdown on open-access rail firms January 20, 2025 Firstgroup and Virgin are combining to push back against a government clampdown on some of the last private train firms operating the UK’s railway tracks. So-called open access is a lesser-used model in which firms shoulder commercial risk but take the entire share of any profit. It is viewed as a success story by many [...]
Southeastern boss: Success is not about public or private ownership December 18, 2024 City AM chats with Southeastern Railway's chief Steve White on Covid-19, Labour's reforms and his plans to bring down costs.
HS2: Costs for London Euston section reach over £7.5bn December 10, 2024 Rachel Reeves confirmed in the Autumn Budget HS2 will terminate at Euston station, following a political kerfuffle over how to find the necessary funding.