News: Issue 560 10 Dec 2010
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Buses / Coaches / FTR, Funding / Financing, Railways, All of UK
Revenue support legal action keeps Stagecoach rail in profit
Legal Action against the Department for Transport has prevented Stagecoach’s rail division plunging into the red.
During the six months to October 31, operating profit at the rail division, which comprises the SWT and East Midlands Trains franchises increased 54% to £23m, due to a £41m revenue support payment from the DfT. A court case earlier this year had overruled the DfT’s arguments that revenue support should start from February 2011 rather than April 2010 (LTT June...
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