Latest news with #EversholtRail
Bloomberg
6 days ago
- Business
- Bloomberg
Eversholt Rail Attracts Interest From Hong Kong's MTR
Eversholt Rail, the British rolling stock company being sold by CK Infrastructure Holdings Ltd., is attracting initial interest from suitors including Hong Kong railway operator MTR Corp., according to people familiar with the matter. MTR is among parties that have been studying Eversholt, the people said, asking not to be identified as the information is private. CKI has been seeking a valuation of about £4 billion ($5.4 billion) for the business, the people said.
Daily Mail
6 days ago
- Business
- Daily Mail
New rail service from London to Scottish city coming next spring including first-ever direct trains to capital at three stations
A low-cost rail operator is set to launch a new train service between London and Stirling from next spring with passengers hoping to benefit from cheaper fares. Lumo will operate the trains from Euston, calling at Milton Keynes, Nuneaton, Crewe, Preston, Carlisle, Lockerbie, Motherwell, Whifflet, Greenfaulds and Larbert. Four daily return services will run on the full route from Monday to Saturday and three on Sundays, with an extra daily return service between Euston and Preston. The route will also provide first-ever direct services to London for three stations - Whifflet, serving Coatbridge; Greenfaulds, serving Cumbernauld; and Larbert. Transport giant FirstGroup said the planned new route can now go ahead after it secured a deal with rolling stock company Eversholt Rail for the use of five trains. Stirling currently only has two direct daily trains serving London - one on London North Eastern Railway (LNER) in the day and another on Caledonian Sleeper at night. The new Lumo trains will also provide competition for Avanti West Coast which runs trains between Euston and other Scottish cities such as Glasgow and Edinburgh. FirstGroup's Lumo brand currently runs only on the East Coast Main Line between London King's Cross and Edinburgh, calling at Stevenage, Newcastle and Morpeth. This route launched in 2021 with the aim of being a challenger to LNER, offering cheaper fares and an alternative to low-cost air travel between London and Scotland. Zoe Adjey, senior lecturer in tourism and hospitality at the University of East London, said fares on the route will 'certainly be cheaper' when Lumo starts running. As it stands, travelling from London to Stirling on the daily LNER service at 12pm - which takes five hours and 15 minutes - costs £97.50 for a super-off-peak single. Advance singles start at £34.40. Ms Adjey told Metro: 'The service enhancement will significantly improve the passenger experience, especially compared to air travel.' She added: 'Passengers will get city centre to city centre connectivity, eliminating lengthy airport transfers and security procedures. 'It's like choosing between Eurostar and flying when traveling to Paris or Brussels. The train offers greater convenience despite the longer journey time.' She also said that the higher frequency of services will provide 'greater scheduling flexibility and reduced waiting times', and will help give those living in London and Scotland easier access for tourism. The Independent 's travel correspondent Simon Calder wrote: 'Experience on the East Coast Main Line, where Lumo competes with LNER between London and Edinburgh, suggests fares will fall and some airline passengers will switch to rail as the market expands.' He added: 'Besides serving passengers living or working on the line of route, the new link will increase journey possibilities to and from Perth, Aberdeen and Inverness, connecting with ScotRail services at Stirling. 'The portion of the journey linking London with Crewe, Preston and Carlisle could lead to lower fares on these core Avanti West Coast routes.' Aberdeen-based FirstGroup holds track access rights from regulator the Office of Rail and Road (ORR) for the route on the West Coast Main Line until 2030. Trains will be operated under FirstGroup's Lumo brand, which currently runs only on the East Coast Main Line between London King's Cross and Edinburgh Waverley, calling at Stevenage, Newcastle and Morpeth. The existing daily LNER service between King's Cross and Stirling calls at York, Darlington, Newcastle, Berwick-upon-Tweed, Edinburgh Waverley, Edinburgh Haymarket and Falkirk Grahamston. The new West Coast services were initially planned to start this year, but FirstGroup said they are 'currently expected to commence mid-2026 following the delivery of the trains and staff training'. The company said the agreement with Eversholt Rail is for five Class 222 diesel trains, each with a capacity for about 340 standard-class seats. It expects the services will achieve annual sales of about £50million and a 'low double-digit' operating profit margin. The trains set to be used on the route are Class 222 Meridian units which were previously operated by East Midlands Railway and are being refurbished in a £50million deal with Alstom. The contract includes a £10million fleet modernisation programme with Eversholt Rail, which will be carried out at Alstom's facility in Widnes, Cheshire. Lumo is also awaiting regulatory approval from the ORR to further extend services to Glasgow. The Government started the process of renationalising all remaining franchised train services last month when it brought South Western Railway into public ownership. Lumo runs on a separate open access basis, meaning it sets its own fares, takes on all revenue risk and receives no taxpayer-funded subsidies. In January, Transport Secretary Heidi Alexander wrote to ORR chairman Declan Collier expressing concerns that the open access model can cause 'potential congestion' and result in taxpayers being 'left to fill shortfalls' in maintenance costs. She stated it is her 'expectation' that 'the impacts on the taxpayer and on overall performance' are 'given primacy' by the regulator when it analyses proposals. Martijn Gilbert, managing director of Lumo, added: 'Today's announcement underscores Lumo's commitment to growing Scotland's rail network, providing passengers with more affordable, fast, and convenient travel options. 'Our new service between Stirling and London has the potential to unlock significant economic opportunities for communities along the route, and we're proud to deliver this direct rail connectivity to towns previously overlooked by traditional rail services. 'We are focused on further expanding our services in Scotland to ensure even greater connectivity across the country and the whole UK.' FirstGroup chief executive Graham Sutherland said: 'The mobilisation of our new service between London and Stirling is another important step towards rolling out Lumo as a nationwide operator and growing our open access capacity, a key priority for the group. 'Our investment and capabilities in open access rail have delivered reliable, value-for-money services, grown rail demand and helped to spur economic growth and connect communities. We look forward to doing the same on our new services.' And Sue Webber MSP, Conservative transport spokesperson, said: 'Lumo is actively investing in our capital city – not only bringing in tourists but also supporting our vibrant hospitality and events sector. And this isn't just talk: we're looking at £740million in economic benefits from Lumo by 2032. 'Crucially, this is being delivered not by government mandate, but through private sector innovation and open access investment. That's why I believe this model is one we should be championing. Lumo is not replacing existing services – it's adding capacity, increasing choice, and growing the market for everyone.' Stirling Council leader Gerry McGarvey added: 'We have been consistent in supporting this proposal so it's fantastic news that Lumo has confirmed it will be operating this route, which will boost Stirling's already excellent rail and transport connections to cities across the UK. 'Having four daily rail journeys between Stirling and London will support greater inward investment and business growth, including in key economic sectors such as tourism, as well as increasing travel opportunities for residents.'
The National
02-06-2025
- Business
- The National
New London-Stirling train service expected in mid-2026
Transport giant FirstGroup said it has secured a deal with rolling stock company Eversholt Rail in relation to its planned new route between London Euston and the city of Stirling. Services will also call at Milton Keynes Central, Nuneaton, Crewe, Preston, Carlisle, Lockerbie, Motherwell, Whifflet, Greenfaulds and Larbert. There will be four return services a day (three on Sundays) on the full route, with an additional daily return service between Euston and Preston. READ MORE: Nigel Farage 'hates idea of Scotland having its own Parliament', says John Swinney This will provide more competition for several operators such as LNER and Avanti West Coast. FirstGroup holds track access rights from regulator the Office of Rail and Road (ORR) for the route on the West Coast Main Line until 2030. Trains will be operated under FirstGroup's Lumo brand, which currently runs only on the East Coast Main Line between London King's Cross and Edinburgh. The new West Coast services were initially planned to start this year, but FirstGroup said they are 'currently expected to commence mid-2026 following the delivery of the trains and staff training'. The company said the agreement with Eversholt Rail is for five Class 222 diesel trains, each with a capacity for about 340 standard-class seats. It expects the services will achieve annual sales of about £50 million and a 'low double-digit' operating profit margin. The Government started the process of renationalising all remaining franchised train services last month when it brought South Western Railway into public ownership. Lumo runs on a separate open access basis, meaning it sets its own fares, takes on all revenue risk and receives no taxpayer-funded subsidies. READ MORE: Man, 20, charged after allegedly raping girl, 15, in Edinburgh In January, Transport Secretary Heidi Alexander wrote to ORR chairman Declan Collier expressing concerns that the open access model can cause 'potential congestion' and result in taxpayers being 'left to fill shortfalls' in maintenance costs. She stated it is her 'expectation' that 'the impacts on the taxpayer and on overall performance' are 'given primacy' by the regulator when it analyses proposals. FirstGroup chief executive Graham Sutherland said: 'The mobilisation of our new service between London and Stirling is another important step towards rolling out Lumo as a nationwide operator and growing our open access capacity, a key priority for the group. 'Our investment and capabilities in open access rail have delivered reliable, value-for-money services, grown rail demand and helped to spur economic growth and connect communities. 'We look forward to doing the same on our new services.'
BBC News
02-06-2025
- Business
- BBC News
Stirling to London rail service to launch in 2026
A new direct daily train service between Stirling and London is set to launch in which is part of FirstGroup, will run four return services a day, with three on trains will also call at Larbert, Greenfaulds, Whifflet, Motherwell and Lockerbie en-route to Lumo brand currently runs on the East Coast Main Line between London King's Cross and Edinburgh. The new West Coast services were initially planned to start this year, but FirstGroup said they are "currently expected to commence mid-2026 following the delivery of the trains and staff training".The company said it had secured a deal with rolling stock company Eversholt Rail in relation to the planned new UK government started the process of renationalising all remaining franchised train services last month when it brought South Western Railway into public runs on a separate open access basis, meaning it sets its own fares, takes on all revenue risk and receives no taxpayer-funded are currently only two daily trains to London that stop at Stirling - the Highland Chieftain from Inverness, and the Caledonian new service will compete with Avanti West Coast and the publicly-owned ScotRail, TransPennine Express and chief executive Graham Sutherland said: "Our investment and capabilities in open access rail have delivered reliable, value-for-money services, grown rail demand and helped to spur economic growth and connect communities."We look forward to doing the same on our new services."
ITV News
02-06-2025
- Business
- ITV News
New rail service connecting Carlisle with London and Scotland set to launch in 2026
New rail services between London and central Scotland are expected to launch in mid-2026, providing more rail services connecting Cumbria and the south of Scotland to the UK's capital. Transport giant FirstGroup said it has secured a deal with rolling stock company Eversholt Rail in relation to its planned new route between London Euston and Stirling. Services will also call at Milton Keynes Central, Nuneaton, Crewe, Preston, Carlisle, Lockerbie, Motherwell, Whifflet, Greenfaulds and Larbert. There will be four return services a day (three on Sundays) on the full route, with an additional daily return service between Euston and Preston, providing more competition to LNER and Avanti West Coast. FirstGroup holds track access rights from regulator the Office of Rail and Road (ORR) for the route on the West Coast Main Line until 2030. Trains will be operated under FirstGroup's Lumo brand, which currently runs only on the East Coast Main Line between London King's Cross and Edinburgh. The new West Coast services were initially planned to start this year, but FirstGroup said they are 'currently expected to commence mid-2026 following the delivery of the trains and staff training'. The company said the agreement with Eversholt Rail is for five Class 222 diesel trains, each with a capacity for about 340 standard-class seats. It expects the services will achieve annual sales of about £50 million and a 'low double-digit' operating profit margin. The Government started the process of renationalising all remaining franchised train services last month when it brought South Western Railway into public ownership. Lumo runs on a separate open access basis, meaning it sets its own fares, takes on all revenue risk and receives no taxpayer-funded subsidies. In January, Transport Secretary Heidi Alexander wrote to ORR chairman Declan Collier expressing concerns that the open access model can cause 'potential congestion' and result in taxpayers being 'left to fill shortfalls' in maintenance costs. She stated it is her 'expectation' that 'the impacts on the taxpayer and on overall performance' are 'given primacy' by the regulator when it analyses proposals. FirstGroup chief executive Graham Sutherland said: 'The mobilisation of our new service between London and Stirling is another important step towards rolling out Lumo as a nationwide operator and growing our open access capacity, a key priority for the group. 'Our investment and capabilities in open access rail have delivered reliable, value-for-money services, grown rail demand and helped to spur economic growth and connect communities. 'We look forward to doing the same on our new services.'
