Serco extends Northern Rail deal
Support services firm Serco will run the Northern Rail franchise with its partner Abellio for an extra 22 months, generating £520m for the London-listed firm. The deal, which runs until February 2016, will keep the companies in place on the Northern routes until a full franchise competition is run. The current contract was due to expire on 31 March. Serco said the extension “is anticipated to be run at a lower profit margin than the existing franchise”.