25th Mar 2015 07:58
LONDON (Alliance News) - Stagecoach Group PLC on Wednesday said its Stagecoach South Western Trains Ltd subsidiary has signed a deed of amendment with the UK Department for Transport for the South West Trains franchise.
Stagecoach said the deed provides for an accelerated investment of around GBP50 million on passenger improvements initiatives between now and February 2017, including more services and seats on the line, improved customer information and easier ticket purchasing.
The FTSE 250-listed transport company said the current South West Trains franchise will end in February 2017 and it is currently holding talks with the Department of Transport to extend the South West Trains deal to April 2019.
"This is a great deal for passengers and taxpayers and will ensure work gets underway on a package of customer improvements without delay. It also lays the groundwork for negotiations for a new Direct Award extension to the franchise in due course," said Stagecoach Chief Executive Martin Griffiths.
By Sam Unsted; [email protected]; @SamUAtAlliance
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