The Stagecoach Group has said it is 'disappointed' that it has been unsuccessful in its bid for the new South Western rail franchise.
The company lost the franchise, due to commence in summer 2017, to Great Western Railway's owner First Group.
The company has released the following statement:
We are proud to have operated the network under the South West Trains brand for more than 20 years and we are disappointed that we have been unsuccessful in our bid for the new franchise.
Over the past two decades, we have delivered real improvements for our customers right across the network. That success has been built on fantastic people, detailed knowledge of the business and strong relationships with our stakeholders and railway partners. But we have never thought our job was finished.
We believe we submitted a strong bid for the new South Western franchise. It offered a transformation in the travel experience for our customers, more investment to help the railway support the communities and economy of the south-west, as well as a substantial and deliverable financial benefit to taxpayers to help fund better public services.
We will be seeking detailed feedback from the Department for Transport on the various elements of our bid.
I would like to thank all of our employees and partners who have been involved in delivering our vision for the railway in the south-west over the past two decades as well as those who contributed to our strong bid for the new franchise. I know they share our disappointment in the result. Nevertheless, we will continue to work hard on our part to deliver a professional service and meet our obligations in the final months of our current franchise."
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