Owl says: well, this will take some explaining!!!
“Chris Grayling is expected to make a decision “within days” to end the existing East Coast rail franchise operated by Stagecoach and Virgin Trains.
The transport secretary was said to be preparing to either renationalise the London to Edinburgh line or negotiate a “not-for-profit” arrangement with Stagecoach and Virgin Trains before the end of the week. …
Ministers have denied that the companies are being bailed out, saying they will lose a £165m performance bond and face other penalties. Beyond 2020, the government is expected to introduce a new public-private partnership model on the line.
Virgin Trains East Coast said it had “met or exceeded” all of its contractual commitments on the East Coast line. The DfT declined to comment.”
East Devon Watch 