The DfT has awarded the East Coast rail franchise to the Stagecoach-Virgin joint venture company ICR (Inter City Railways).
Stagecoach is the dominant partner in the joint venture, holding 90% of the share capital.
The new franchise runs from 1 March 2015 to 31 March 2023, and comes with a one year optional extension at the DfT’s discretion. ICR is committed to increase the premium payable to the Government – on this already profitable route – to around £2.3bn (at...
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