East Coast main line rail franchise, which runs services from London to Edinburgh, will be transferred to a government-controlled company on November 13, the Department of Transport (DfT) said on Thursday. Skip related content
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The franchise, which will be handed back by bus and rail operator National Express after it ran up large losses on the route, will take place a month earlier than originally planned after the DfT issued a termination notice on Wednesday night.
The franchise will be operated by a new public company, East Coast, run by former FirstGroup executive Elaine Holt, until a permanent operator is found.
The East Coast line will be operated by the government until mid-2011 and any profit it makes will be returned to the public purse while it is in state hands, according to an internal government briefing seen by Reuters.
RMT rail union general secretary Bob Crow said: "This is the second privatisation failure on the East Coast route following on from the GNER collapse.
"We will be meeting ministers to demand that this renationalisation is made permanent rather than being seen as an expensive short-term fix with a third gamble on privatisation in 18 months time."
National Express took over the running of the East Coast franchise in 2007, and agreed to pay the government 1.4 billion pounds over seven years.
(Editing by Paul Sandle)
A picturesque bridge over the River Thames that has the added perk of being a tax haven has gone on public viewing ahead of going up for auction.
