Branson: Virgin trains will vanish from the UK after Stagecoach ban
CRIMSON TAZVINZWA|| Sir Richard Branson has said Virgin trains could disappear from Britain’s railways by the end of the year after more than two decades following the government’s decision to block the renewal of its West Coast franchise.
Virgin Trains could disappear from the UK within months after partner Stagecoach was barred from bidding for three new rail franchises amid a row over rail staff pensions.
The Department for Transport (DfT) disqualified the transport group from three rail franchise competitions because its bids “breached established rules” particularly “in respect of pensions risk”.
The Pensions Regulator has warned train companies to face a pensions black hole of up to £7.5bn.
Sir Richard said he is “devastated” by the decision which could see Virgin Trains gone from the UK in November.