GOOD OR BAD NEWS?????? Liverpool Street to chelmsford will it ever be the same ? late, cancellations leaves or sheep on the track ?
Rail operator loses chelmsford line!!!!!!!!!!!!
Department for Transport announced today that it would not allow National Express to extend the East Anglia franchise beyond March 2011, when it comes up for renewal
The decision will cost National Express three years of profits from the East Anglian franchise.
Transport minister Lord Adonis said that National Express forfeited the chance to keep control of the East Anglia line until 2014 when it decided in July that it could no longer afford to run the east coast line. He confirmed that the company had otherwise hit the performance targets needed to ensure a renewal.
The decision indicates that National Express will also lose its C2C franchise – serving London, Tilbury and Southend – when the current contract ends in 2011.
National Express will ask shareholders to approve its £360m cash call tomorrow. Its biggest shareholders, the Cosmen family, now own almost 20pc of the firm and have been campaigning against the rights issue. They are thought to still favour a tie-up with Stagecoach, who saw its suggestion of a merger rebuffed last month.
WHAT WILL RINGO THINK OF ALL THIS???
WHO WILL PAY IN THE END WHO DO YOU THINK?