Stagecoach wants inquiry after rail bid document was leaked to rival April 20, 2019 Stagecoach has called for a review of the way rail franchises are awarded after it emerged that a rival had seen the details of its bid. The transport company claimed that the department for transport (DfT) failed to investigate the incident properly, although the DfT deny that any information rival Abellio saw would have influenced the bid. Read [...]
South Western trains franchise going to tender July 7, 2015 The South Western rail franchise will be put out to tender, it has been announced by the Department for Transport. The franchise is currently run by a subsidiary of transport operator Stagecoach Group – Stagecoach South Western Trains. It had previously been given the franchise by Direct Award negotiations – granted by the government [...]
East Coast rail line returns to private hands after Virgin Trains and Stagecoach bid to end public ownership March 1, 2015 The East Coast mainline returned to private hands yesterday following last November’s successful bid by Virgin Trains and Stagecoach to operate the line after five years of public ownership. The £3.3bn contract, which sees the consortium branded Virgin Trains East Coast running the line for the next eight years, has divided political opinion along party [...]
Commuters, brace yourselves – another London bus strike is on its way. Here are the routes affected and companies taking part February 10, 2015 Bus commuters should brace themselves for the third strike in a month as nine operators plan yet more action over pay disputes. Transport for London is preparing for another 24 hours of major disruption on Friday February 13, followed by a fourth day of action on the following Monday (February 16). The transport group [...]
Stagecoach’s share price falls as bus wing hits bump in the road December 10, 2014 Stagecoach yesterday warned investors that it would make less profit than expected from its UK and US bus operations this year, sending the group’s share price down by nearly seven per cent. Chief executive Martin Griffiths said the transport operator was in excellent financial shape, but warned that the mix of profit would be altered [...]
Stagecoach share price jumps on East Coast mainline rail franchise win with Richard Branson’s Virgin November 27, 2014 Stagecoach and Virgin are the joint winners of a bid to run the East Coast mainline route, netting the government £3.3bn over the next eight years. The route between London and Edinburgh has been publicly run since 2009 after previous operator National Express ran into difficulties and gave up the contract. Stagecoach and Virgin, which [...]
London buses help Stagecoach drive up revenue by 14 per cent October 29, 2014 London bus contracts have boosted revenue at Stagecoach by 14.5 per cent, the company said in a trading update yesterday. Revenue grew across the board, with UK rail providing the second biggest contribution at 7.4 per cent in the six months to mid-October this year. Overall, the bus and rail company said in a statement, [...]
All aboard for Stagecoach as profits increase June 25, 2014 BUS AND rail transport group Stagecoach yesterday reported 2.4 per cent jump in pre-tax profit for fiscal 2014 ended 30 April, with revenue growth in all divisions. The company said its profits were driven largely by its operations in North America, adding that it was taking forward talks with the UK government over extending current [...]
Stagecoach meets expectations as confidence in buses grows June 25, 2014 Stagecoach has announced financial results in line with the company's expectations for the year ended 30 April. Profit before taxation was in line with analysts’ forecasts of £180m. The FTSE 250 company's performance in the UK was was boosted by new contract wins in London and solid cost control. North American business has been booming, [...]
Stagecoach sees bus and train revenue rises down the road April 29, 2014 STAGECOACH’S bus business has been raking in fares, with like-for-like revenues up 4.8 per cent in the last 10 months. The FTSE 250 firm said turnover from commercial services should make up for a tougher time on concessionary fares, building on its growing bus operations in London. Meanwhile the firm’s rail venture is in talks [...]