A DfT decision to extend FirstGroup’s Great Western and Thameslink franchises for over two years has bought the troubled group some breathing space.
FirstGroup promised investors it would review its freeze on the level of dividends once the DfT had clarified the future of rail franchising (LTT 23 Nov).
Transport secretary Patrick McLoughlin announced that he would extend First Great Western’s contract for seven months and seek to negotiate an additional two-year contract to give the...
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