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Network Rail publishes its 2008/9 annual report |
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Sunday, 28 June 2009 |
Network Rail has just published (26 June 2009) its annual report for
the year 1 April 2008 to 31 March 2009, a year in which the company
delivered record levels of investment, strong financial performance
with healthy profits reinvested in the railway and train punctuality at
a new all time high.
Iain Coucher chief executive said about the report, "Network
Rail has had a good year meeting or exceeding almost all its targets
and those set by the Office of Rail Regulation.
"Train performance is at an all time high, the railway has never
been safer to travel on, millions of pounds have been saved from the
cost of running the network and billions invested to make further
improvements.
"I have forgone my bonus this year to enable
the company's record to speak for itself. All of the people that work
for me, from track worker, to signal box to board-room have met and
exceeded tough targets, delivered record levels of performance and have
provided customers with a better railway - they deserve to share in our
success."
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National Express defaults on it's franchise |
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Wednesday, 01 July 2009 |
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The Government is to take over the running of the East Coast Main Line
after present operator National Express defaulted on its franchise.
Transport Secretary Lord Adonis said he had set up a publicly-owned
company which will take over the East Coast line when National Express
ceases to operate the franchise - probably later this year.
Lord Adonis added that the Government may have grounds to terminate
National Express's other rail franchises - East Anglia and the London
to Tilbury and Southern franchise c2c.
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