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14 июня, 16:09

Fall in UK rail passenger numbers casts doubt on viability of franchises

Season ticket sales drop 9.2% with customers hit by rising fares, strikes and overcrowding Rail passenger numbers in the UK fell last year to 1.7bn in the biggest decrease since privatisation in the 1990s, casting fresh doubt on the viability of struggling franchises.According to figures published by the Office of Rail and Road, usage fell by 1.4% in the 2017-18 financial year, the first annual fall since 2009-10 and the biggest since 1993-4. Continue reading...

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31 мая, 10:03

FirstGroup dumps chief executive as firm reports £326m loss

Aberdeen-based rail and coach group is ‘exploring options’ including sale of GreyhoundThe chief executive of FirstGroup, which runs buses in numerous UK cities and the Great Western, South Western and TransPennine rail franchises, has been ousted after the company slumped to a £326m loss.The troubled Aberdeen-based rail and coach operator, which has said it is exploring options including a sale of US bus group Greyhound, also said it remained committed to the TransPennine contract despite revealing it will lose more than £110m running the franchise. Continue reading...

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18 мая, 17:27

UK railways prove less profitable than private operators once hoped

Collapse of East Coast franchise prompts questions about position of other firmsThe East Coast has once again proved that the railway from Scotland to London is not lined with gold for private operators. This week’s collapse of the Virgin Trains East Coast (Vtec) franchise marks the third time in a little more than a decade that a train company operating on that line has failed to meet its contractual obligations. The decision to return the service to the public sector for the time being was made by Chris Grayling, the transport secretary, as a precursor to a new public-private partnership.Its collapse has been described as a“bailout” of Vtec’s owners, Stagecoach and Virgin, and has been widely criticised. Continue reading...

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12 апреля, 20:10

Labour warns Apollo against pursuing interest in FirstGroup

Bus and rail company FirstGroup rejected offer from US private equity group Labour and the RMT union have warned the US private equity firm Apollo Global Management off pursuing its interest in the transport firm FirstGroup, after the British company rejected a takeover approach.FirstGroup, which operates UK rail franchises including Great Western and TransPennine Express, nearly 20% of local bus routes outside London and the US Greyhound coach service, said it had turned down a proposed cash bid from Apollo that it claimed “fundamentally undervalues the company and is opportunistic in nature”. Continue reading...

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12 апреля, 00:35

FirstGroup rejects takeover bid from US equity group Apollo

British transport firm dismisses approach from private equity group as ‘opportunistic’Bus and rail company FirstGroup has rejected a takeover approach from the American private equity group Apollo, the British transport operator has announced. After shares rose more than 7% during trading on Wednesday amid rumours of a takeover bid, the board of FirstGroup issued a statement confirming an initial proposal had been made by Apollo Management but had been unanimously rejected, dismissing it as “opportunistic”. Continue reading...

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21 февраля, 16:22

Stocks to watch: AA, FirstGroup, Glencore, Wolters, LendingClub

Match.com downgraded as few product catalysts on horizon, says JPMorgan

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17 ноября 2017, 19:41

Investors Chronicle: Vodafone, FirstGroup, Oxford Instruments

Companies analysis from our sister publication

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12 июля 2017, 01:14

Lombard: Last word on FirstGroup

What would John Betjeman have made of today’s services into Exeter

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11 июля 2017, 15:17

UK watchdog raises rail competition concerns about FirstGroup

Transport company is involved in two franchises offering train services to Exeter

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01 июня 2017, 21:28

FirstGroup investors travel in hope of a dividend

Competitors Stagecoach and Go Ahead offer decent payouts

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01 июня 2017, 14:52

FirstGroup’s cautious outlook unnerves investors

Company warns of ‘mixed trading environment’ despite better than expected results

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01 июня 2017, 12:41

School buses boost FirstGroup profits

The transport giant was boosted by a strong performance from its school bus operations in North America.

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19 мая 2017, 14:52

Croydon tram driver filmed 'asleep at wheel' on same line as fatal crash

Inquiry launched after commuter’s footage appears to show driver asleep at controls six months after derailment killed sevenA tram driver has been suspended and an investigation launched after a passenger filmed him allegedly asleep at the controls, six months after seven passengers were killed in a crash on the same network.The film apparently shows the driver asleep in charge of a tram heading to Wimbledon that had stopped at lights in the centre of Croydon at rush hour on Wednesday morning. According to commuters, he remained asleep for several minutes before passengers woke him. Continue reading...

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01 апреля 2017, 17:59

British rail is nationalised all over again – by foreign states

Overseas firms now provide half of all UK rail journeys. But could Brexit signal an end to overseas control?At Romford station, in the Essex centre of “taking back control”, there’s a choice of trains into London: those run by the Dutch, or those run by the Chinese. Anyone heading for nearby Basildon has to change at Upminster and pay a fare to the Italian firm that has been operating C2C since January.Welsh railways fell to German-owned Arriva long ago, while ScotRail is also in the hands of the Netherlands’ Abellio. The French, as part of Govia, own much of Britain’s biggest commuter franchises, including Southern Rail. Still, the news last week that South West Trains – serving destinations such as Weymouth and Windsor from Waterloo – would from August be operated by First MTR, partly owned by the Hong Kong government, marked a tipping point in Britain’s rail franchising. Continue reading...