Haines joins Eversholt as Non-Exec

This from Eversholt...

Eversholt Rail appoints Non-Executive Director

Eversholt Rail is pleased to announce the appointment of Andrew Haines as a non-executive director. He will join the Board on 1st January 2013.

Andrew is Chief Executive of the Civil Aviation Authority, a role he has held since August 2009.  He previously spent 23 years working within the railway Industry in a number of roles including Managing Director of South West Trains and Head of FirstGroup’s Rail Division.

Graham Love, non-executive chairman of Eversholt Rail, said: “We are looking forward to welcoming Andrew onto the Board and working with him. His wealth of experience will provide us with an invaluable insight in helping to meet the needs of our customers”.
 
So that looks like Hainesy ruled out for DG Rail!

Eversholt sale update

This from Reuters...

AMSTERDAM (Reuters) - CVC Capital Partners and a consortium of Morgan Stanley Infrastructure, 3i Infrastructure and Star Capital have made indicative offers in the 2 billion pound ($3.1 billion) auction of HSBC's rolling stock firm, several people familiar with the matter said.

Looks like another nail in the coffin for investment in new rolling stock.

UPDATE: This from Gordon Gecko..

In fact the staple debt linked to the Eversholt sale reportedly includes £200 million for capital investment.

And DfT won't be able to afford the lease rentals on new trains after May 6 so the HLOS 1300 is nearer 700.

But no new trains means a lot more refurbishment, re-engineering and life extension.

We guys in red braces call it 'polishing the assets'.