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FirstGroup rail franchises extended


FirstGroup rail franchises extended
StockMarketWire.com at: http://www.moneyam.com/action/news/showArticle?id=4561856
Three FirstGroup rail franchises - First Capital Connect, First Great Western and First TransPennine Express - will continue beyond their end dates.

The extensions were announced after the Department for Transport published a detailed timetable for all rail franchises.

Chief executive Tim O'Toole said: "The publication of the timetable setting out the return to rail franchising is an important development for the industry, enabling the private sector to continue to provide effective and efficient passenger rail services with further performance and infrastructure improvements.

"In particular, the extension of our First Capital Connect, First Great Western and First TransPennine Express franchises provides continuity and consistency for our passengers and enables us to continue to deliver considerable improvements to services.

"As the UK's largest and most experienced rail operator, we remain committed to maintaining a leading position in the market.

"We look forward to reviewing the details of the upcoming franchise competitions as they are announced, and submitting further high quality bids that deliver for passengers, taxpayers and shareholders."



At 9:37am: (LON:FGP) FirstGroup share price was -1.45p at 196.75p


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