Stagecoach and Virgin succeed in bid to run East Coast Main Line
STAGECOACH and Virgin will pay £3.3bn to run the East Coast Main Line for the next eight years after they were awarded the franchise this morning.
The consortium, Inter City Railways, has committed to invest £140m in stations and trains, reduce travel times from Leeds to London, and introduce a direct route to the capital from Huddersfield.
There will be an additional 3,100 seats at peak times by 2020, while there will be 12,200 seats added across the fleet.
Transport Secretary Patrick McLoughlin said: “This is a fantastic deal for passengers and for staff on this vital route. It gives passengers more seats, more services and new trains.
“We are putting passengers at the heart of the service. I believe Stagecoach and Virgin will not only deliver for customers but also for the British taxpayer.”
Inter City Railways will take over the running of the franchise on March 1, 2015, and will hold it until 2023.
Martin Griffiths, chief executive of Stagecoach Group, said: “We have some fantastic ideas to deliver a more personal travel experience for customers. Investing in the committed people who will make that happen is a big part of our plans, giving opportunities for them to develop and grow into more senior roles.
“At the same time, we have developed major programmes to help young people, communities and small businesses along what is one of Britain’s major rail routes.”
The new franchise will provide regular journey times of 2 hours to Leeds while reducing all long-distance standard anytime fares by 10%. Inter City Railways will develop its own website, smartphone and tablet apps which they say will make door-to-door travel easier for customers, including planning journeys and buying tickets.
