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Railhub Archive 2002-11-12 SRA-001 Strategic Rail Authority0
Future for Island Line announced
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franchising *ISL2
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Future for Island Line announced _______________________________________________________________
type Press release
Stagecoach Group plc is to continue operating the Isle of Wight's rail franchise until 2007 under a new deal agreed in principle with the Strategic Rail Authority (SRA).
The new Island Line franchise will run from September 2003 to February 2007 and will be for the continued operation of the existing level of services between Shanklin and Ryde. It follows the announcement last week that the SRA had agreed with Stagecoach the principles of a new South West Trains franchise, also until February 2007.
Nick Newton, the SRA's Chief Operating Officer, said:
"We are pleased to have secured an agreement for the operation of the Island Line until 2007. From this sound base we can continue to explore long term options with the Council, passenger groups and other key stakeholders on the Island."
Graham Eccles, Executive Director of Stagecoach Group, said:
"We are delighted to have reached agreement in principle to retain the Island Line franchise. The agreement includes funding provision from the SRA for work necessary to keep the Island Line operating safely and efficiently for the next four years. We look forward to working with the SRA and Island stakeholders to find a suitable solution for the long term future of the line."
Notes to Editors: 1. Island Line is Britain's best performing railway, achieving 96.7% of trains on time in the year to June 2002, and 92% of passengers satisfied with their journey in the SRA's Spring 2002 National Passenger Survey. It is also Britain's smallest franchise, operating on 8.5 miles of track with 800,000 passengers journeys per year. 2. The Line is also, proportionately, Britain's most highly subsidised rail franchise, receiving 36.9 pence of public money per passenger kilometre during 2001/2. In total it received £2.3 million subsidy from the SRA in 2001/2002. 3. The Island Line runs from Shanklin to Ryde Pier Head, linking in with ferry and hovercraft services to the Island from Portsmouth. The current franchise, held by Stagecoach Holdings plc since October 1996, expires in September 2003, having been extended by 2 years from its original term of 5 years. 4. The Secretary of State for Transport has granted the SRA approval under Section 26 of the Railways Act 1993 (as amended) to enter into single tender negotiations with Stagecoach Group plc towards a new franchise. 5. Detailed negotiations on the new franchise will commence shortly.
Railhub Archive ::: 2002-11-12 SRA-001
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