The Go-Ahead Group plc welcomes the report and findings of the independent Quality Contracts Scheme Board on Nexus’s proposed Quality Contract Scheme for Tyne and Wear, published following a thorough and robust process undertaken by the Board.
Overall, the proposed Scheme failed to demonstrate that it was in the public interest:
Its affordability was not demonstrated; the proposed scheme did not provide value for money; and
Nexus also failed to comply with statutory requirements on consultation.
We are pleased our belief has been validated that working in partnership can bring about a better outcome for both bus passengers and taxpayers.
The Go-Ahead Group
Group Corporate Communications Director
07808 568 667
Interim Head of Investor Relations
07775 420 996
Citigate Dewe Rogerson
Michael Berkeley / Chris Barrie/ Angharad Couch / Eleni Menikou
020 7638 9571
Go-Ahead is a leading UK public transport operator, providing high quality services in the bus and rail sectors. Employing around 26,000 people across the country, over one billion passenger journeys are undertaken on our services each year. We are committed to operating our companies in a safe, socially and environmentally responsible way and are proud to have been accredited with triple Carbon Trust Standard for reductions in carbon, water and waste. In addition to the travelling public, our customers include the Department for Transport, Transport for London (TfL) and local authorities.
Go-Ahead is one of the UK’s largest bus operators. With a fleet of around 4,800 buses, we carry around two million passengers every day. Our operations are focused on high density commuter markets. We have a strong presence in London, with around 24 per cent market share, where we provide regulated services for TfL. We operate deregulated services in Oxford, East Anglia, the South East, Southern and North East England.
The rail operation, Govia, is 65 per cent owned by Go-Ahead and 35 per cent by Keolis. It is the largest rail operation in the UK, responsible for around 35 per cent of all UK passenger rail journeys through its rail franchises: GTR (Govia Thameslink Railway), Southeastern and London Midland.
Certain statements included in this press release contain forward-looking information concerning the Group’s strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Group operates. By their nature, forward-looking statements involve uncertainty because they depend of future circumstances, and relate to events, not all of which are within the Group’s control or can be produced by the Group. Although the Group believes that the expectations reflected in such forward–looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Nothing in this press release should be construed as a profit forecast and no part of these results constitutes, or shall be taken to constitute, an invitation or inducement to invest in The Go-Ahead Group plc or any other entity, and must not be relied upon in any way in connection with any investment decision. Except as required by law, the Group undertakes no obligation to update any forward-looking statement.