26th Sep 2005 11:01
Stagecoach Group PLC26 September 2005 26 September 2005 STAGECOACH GROUP SUBMITS BID FOR GREATER WESTERN RAIL FRANCHISE • Innovative plans to revitalise railway and make it a national model • Comprehensive package of improvements to attract more passengers • Value-for-money for taxpayers and premium payments to Government Stagecoach Group today (26 September 2005) submitted its bid for the new GreaterWestern rail franchise with a commitment to deliver a revitalised railway forpassengers. The bid, which has been developed following extensive consultation with localstakeholders, offers significant premium payments to the Government as part of acomprehensive and value-for-money package of improvements. Stagecoach - bidding as Brunel Trains Limited - is one of three companiesshortlisted for the franchise by the Department for Transport, which is bringingtogether three existing franchises under a new Greater Western network. Passengers and taxpayers enjoy significant benefits under the Stagecoachproposals, including: • A multi-million-pound investment in trains, depots and stations • Measures to dramatically improve operational performance of the high speed train fleet and make the railway more reliable for passengers • Improvements to on-board passenger comfort and facilities • Better value fares for passengers • A detailed management transition plan to bring the current three franchises together smoothly under one unified network • Proposals for closer working relationships with Network Rail and other operators Brian Souter, Chief Executive of Stagecoach Group, said: "Brunel was one ofBritain's true engineering greats and we believe we have put together a bid thatincorporates the same qualities of investment, innovation and improvement thatwill truly put the 'great' into the Greater Western franchise. "Our bold plans will deliver the essential ingredients for today's railway:operational expertise, first-class service to customers and value for money totaxpayers. We believe we have developed a compelling and winning package thatcan transform Greater Western into a national model for punctual, clean andcomfortable trains, smart and safe stations, and friendly and efficient staff,delivering a revitalised railway. We look forward to working with the Departmentfor Transport during their evaluation of the bids, and to a final decisionregarding the franchise." Stagecoach operates the UK's largest rail franchise, South West Trains, whichwas named Passenger Operator of the Year at the 2005 National Rail Awards. ENDS For further information please contact: Steve Stewart, Head of Media and PublicAffairs, Stagecoach Group01748 or 07764 774680 Notes to Editors Stagecoach Group • Stagecoach Group is a leading international transportation group, with operations in the UK, the USA, Canada and New Zealand. The Group's businesses, which include bus, train, tram, express coach, and ferry operations, operate around 13,000 vehicles and rolling stock and employ around 30,000 people. • In the UK, Stagecoach is one of the biggest bus operators. The company runs the award-winning South West Trains and Island Line franchise. Stagecoach also has a 49% stake in Virgin Rail Group, operator of the West Coast and CrossCountry inter-city franchises. • Formed in 1980, the company floated on the London Stock Exchange in 1993 and now has an annual turnover of around £1.3 billion. Greater Western Rail Franchise • The new Greater Western franchise will be made up of the existing Great Western, Great Western Link and Wessex Trains franchises. • Covering the West Country to London, the franchise includes long-distance, regional and local services in the Thames Valley, Cotswolds, Bristol and the surrounding area and the West of England, with some cross-border services into South Wales. • The seven-year franchise will run from 1 April 2006 with a potential three-year automatic extension if agreed performance targets are met. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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