Stagecoach barred from rail franchise bids in pensions row
Stagecoach says it is"extremely concerned" after the Department for Transport barred it from three UK rail franchise bids.
"We are extremely concerned at both the DfT's decision and its timing. The department has had full knowledge of these bids for a lengthy period and we are seeking an urgent meeting to discuss our significant concerns." It was, he said,"more evidence that the current franchising model is not fit for purpose" and"further damages the already fragile investor confidence in the UK rail market".
"Stagecoach chose to propose significant changes to the commercial terms for the East Midlands, West Coast Partnership and South Eastern contracts, leading to bids which proposed a significantly different deal to the ones on offer. Rail companies that lose franchise battles are normally reluctant to complain too loudly. It's a long game and there is always another franchise tender coming up, so why alienate the government department that hands out the goodies?
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