MPs criticise DfT's lack of scrutiny of East Coast rail franchise bid
Report finds encouragement of overbidding led to Vtec’s failure to pay premiums
The Department for Transport failed to conduct “appropriate due diligence” on a bid to run the troubled East Coast rail franchise, a report by MPs has found.
In June, Virgin Trains East Coast (Vtec) became the third company in just over a decade to have its contract to run the east coast mainline prematurely terminated, after anticipated revenue and passenger growth failed to materialise.
Source: Guardian Transport