TIDMSGC
RNS Number : 5433A
Stagecoach Group PLC
27 March 2017
27 March 2017
South Western rail franchise
Stagecoach Group plc ("Stagecoach") is disappointed that it has
been unsuccessful in its bid for the new South Western rail
franchise, which is due to commence in summer 2017.
Stagecoach Group Chief Executive Martin Griffiths said: "We are
proud to have operated the network under the South West Trains
brand for more than 20 years and we are disappointed that we have
been unsuccessful in our bid for the new franchise.
"Over the past two decades, we have delivered real improvements
for our customers right across the network. That success has been
built on fantastic people, detailed knowledge of the business and
strong relationships with our stakeholders and railway partners.
But we have never thought our job was finished.
"We believe we submitted a strong bid for the new South Western
franchise. It offered a transformation in the travel experience for
our customers, more investment to help the railway support the
communities and economy of the south-west, as well as a substantial
and deliverable financial benefit to taxpayers to help fund better
public services.
"We will be seeking detailed feedback from the Department for
Transport on the various elements of our bid.
"I would like to thank all of our employees and partners who
have been involved in delivering our vision for the railway in the
south-west over the past two decades as well as those who
contributed to our strong bid for the new franchise. I know they
share our disappointment in the result. Nevertheless, we will
continue to work hard on our part to deliver a professional service
and meet our obligations in the final months of our current
franchise."
ENDS
For further information, please contact:
Analysts
Ross Paterson, Finance Director 01738 442111
Bruce Dingwall, Group Financial Controller 01738 442111
Media
Steven Stewart, Director of Corporate Communications 01738 442111 or 07764 774680
Notes to Editors
Stagecoach Group
-- Stagecoach is an international public transport group, with
operations in the UK, the United States and Canada. The Group
employs around 40,000 people, and operates around 13,000 buses,
coaches, trains and trams.
-- Stagecoach is one of the UK's biggest bus and coach operators
with around 8,500 buses and coaches on a network stretching from
south-west England to the Highlands and Islands of Scotland.
Low-cost coach service, megabus.com, operates a network of
inter-city services across the UK.
-- Stagecoach is a major UK rail operator, running the South
West Trains, Island Line and East Midlands Trains networks. It also
has a 49% shareholding in Virgin Rail Group, which operates the
West Coast rail franchise, and a 90% shareholding in Virgin Trains
East Coast, which operates the East Coast rail franchise.
-- Stagecoach operates the Supertram light rail network in Sheffield.
-- In North America, Stagecoach operates around 2,300 buses and
coaches in the United States and Canada. megabus.com operates a
network of inter-city coach services in North America. Stagecoach
is also involved in operating commuter, transit, contracted,
charter, airport shuttle and sightseeing services.
For further information, go to www.stagecoach.com.
South West Trains
Stagecoach Group has operated the South Western network under
the South West Trains brand for the past 20 years, delivering
extensive improvements for customers, including
× Doubling the number of passengers travelling on the network
from 108million in 1996 to more than 230million today
× Adding more than 400 extra train carriages and more than
45,000 more train services a year compared to 20 years ago
× Replacing old 'slam door' rolling stock with a GBP1billion
fleet of modern, safer and more comfortable trains, with a further
GBP210million fleet of new trains to come in 2017
× Pioneering better integration of train and track in
partnership with Network Rail to provide better journeys for
customers, including at times of disruption
× Driving plans which will deliver a 30% increase in train
capacity at the busiest times of the day by 2018 - with further
capacity improvements to come
× Helping deliver the successful Isle of Wight Rail Partnership
(CRP) to create a sustainable and reliable rail network for
communities on the island
× Investing in our depots and maintenance facilities to deliver
amongst the most reliable trains in the country
× Providing better information for customers, including an
industry leading social media presence with 240,000 followers, as
well as more real time information at stations
× Investing in new digital tools for our customers, including an
improved website and mobile app, as well as free on-train WiFi
× Introducing new customer ambassadors at stations, hundreds of
new ticket machines and a real time video facility linked to a
dedicated 24/7 customer contact centre.
× Investing in our people, providing better training and
opportunities for career development
× Multi-million-pound improvements at stations, with an ongoing
programme to deliver more fully accessible stations
× Building new car parks and introducing thousands of extra
spaces to accommodate growth on the network
× Creating thousands of extra spaces for bicycles at stations to
promote more sustainable travel options
× Regularly engaging with our customers and stakeholders through
a programme of webchats, passenger forums and opportunities to meet
directly with our management team
× Achieving amongst the best levels of customer satisfaction in
London and the South East on one of the most complex and
challenging networks
This information is provided by RNS
The company news service from the London Stock Exchange
END
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March 27, 2017 02:15 ET (06:15 GMT)
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