Tuesday, 2 October 2012

First for faith over adversity?

This from the Scotsman...

First Group, the Aberdeen-based transport firm that beat Sir Richard Branson’s Virgin Rail to win the west coast main line franchise, expects to take over the running of the route on time despite the ongoing legal challenge.


As the franchise documentation has been returned to the bidders following Virgin's legal challenge and mobilisation is assumed to take 120 days from contract sign, First's confidence in being able to meet the 9th December start date seems very brave, as without a contract they are presumably mobilising at risk?

Eye wonders how First's costs are being covered or whether they are being underwritten?

And if so, by whom?