Stagecoach and Virgin joint-venture wins east coast mainline franchise

Stagecoach and Virgin joint-venture wins east coast mainline franchise
Inter City Railways, 90% owned by Stagecoach, will bring London-Edinburgh line back into private hands after five years

Virgin Trains will be operating on both rail routes linking London and Scotland next year after being awarded the franchise for the reprivatised east coast main line.

The new company running the London-Edinburgh trains on the east coast will be Inter City Railways, a separate joint-venture 90%-owned by Stagecoach, and the trains will be branded Virgin Trains East Coast. Sir Richard Branson retains a 10% stake and the Virgin brand.

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Source: Guardian Transport

http://www.theguardian.com/uk-news/2014/nov/27/virgin-stagecoach-east-coast-inter-city-rail-franchise-win