The DfT this week awarded FirstGroup the West Coast Main Line franchise in a deal that will see the rail operator pay the DfT £5.5bn (net present value) over the lifetime of the contract, which runs from 9 December for a core period of 13 years and four months, with an option to extend to 15 years.
FirstGroup’s offer exceeded the £4.8bn premium proposed by incumbent operator Virgin Rail and prompted questions about First’s ability to meet the payments.
First West Coast...
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