Flybe or not to Flybe? This bailout flies in the face of market economics January 17, 2020 The philosophy of the market is based on the idea that the key to a prosperous economy is competition. Fair and vibrant competition, the argument goes, spurs businesses to improve quality and reduce prices, benefiting consumers and fuelling economic growth. Companies that struggle should be allowed to fail, making room for more agile or innovative [...]
Northern Rail franchise on course for financial collapse in ‘a number of months’ January 9, 2020 The crisis-stricken Northern Rail franchise is on course for a full-scale financial collapse within months, according to transport secretary Grant Shapps. In a statement citing the franchise’s most recent financial information, Shapps said the franchise could only continue to run for “a number of months” before the government stepped in. Read more: Arriva-run Northern Rail [...]
Tfl set to cut hours of London Overground ticket offices January 7, 2020 Transport for London (TfL) has confirmed it will cut the hours of London Overground ticket offices after an ongoing row with the rail union. TfL announced today that a swathe of ticket offices will have their hours cut if they are deemed to not be busy enough to be open all day. Read more: London [...]
South Western Railway’s future at risk as losses hit £137m January 7, 2020 South Western Railway is on the brink of collapse, its auditor has warned after it swung to a massive £137m loss in its latest financial year. Deloitte warned there is “significant doubt” over the future of the strike-hit firm, which could be nationalised by the Department of Transport (DfT) in order to keep its rail [...]
Revealed: London’s 10 most affordable commuter towns January 6, 2020 As the prices of annual train tickets continue to rise, life just got that bit trickier for those commuting into London every day. But for people living in the Essex town of Grays, it is not all bad, after it was revealed as the as the most affordable London commuter town. Read more: London’s best [...]
Three companies pay Ofgem £10.5m over 9 August power cut January 3, 2020 Three companies have paid Ofgem a combined £10.5m over the power cuts of 9 August, which disrupted supply to more than 1m customers. After investigation, Ofgem found that two large power stations, Hornsea One Ltd and Little Barford – operated by RWE – did not remain connected after the lightning strike. Read more: National Grid [...]
Northern Rail ‘could be split up’ amid nationalisation plans December 26, 2019 The government is said to be plotting a break-up of Northern Rail as part of a radical plan to renationalise train services in northern England. Northern Rail, which is run by German operator Arriva, would be split into two franchises – North West and North East – under plans drawn up by Whitehall officials, the [...]
Queen’s Speech promises wide-ranging public spending December 19, 2019 A wide ranging Queen’s Speech has set out the government’s plans to boost NHS spending, slash business rates, implement stricter prison sentencing and to leave the EU. Queen Elizabeth’s second state opening of parliament in three months began with the government’s promise leave the EU by the end of January. Read more: NHS to be [...]
RMT pledges to fight Tory plans for ‘minimum service’ during strikes December 17, 2019 The boss of the RMT transport union has hit out at government plans to pass legislation to ensure commuters to can get to work during strikes. Responding to the proposed legislation, general secretary Mick Cash said: “It hasn’t taken long for the true colours of this new Tory government to emerge. Read more: South Western [...]
Trainline revenue surges to £198m on £2.9bn ticket sales December 17, 2019 Trainline enjoyed a 26 per cent jump in revenue in the first nine months of its current financial year, it revealed today. The ticket-booking app saw total group revenue hit £198m after international income soared 90 per cent year on year to £20m and UK consumer revenue leapt 31 per cent to £133m. Read more: [...]