In July, transport secretary Lord Adonis vetoed a deal being discussed between National Express Group and Department for Transport civil servants which would have seen NEG’s stricken East Coast franchise bailed out with a new management contract. Facing losses running into hundreds of millions of pounds as a result of its failure to meet ambitious growth targets, NEG was forced to hand back the franchise to the DfT. For only the second time since privatisation a train operating company...
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