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East Coast arrivals cause rail upset

The Guardian: 30 January 2009
Nick Fletcher

Transport companies FirstGroup and National Express both fell sharply yesterday on news of increased competition on the East Coast mainline rail route.

Open-access company Grand Central has been granted an extra route between Sunderland and King's Cross by the rail regulator, as well as three new Inter-City routes between Bradford and King's Cross. An application by rival Hull Trains, 80% owned by FirstGroup, for a new route to Harrogate was turned down while a request for more routes from National Express, owner of the East Coast franchise, has been sent to the Department for Transport for consideration. The news helped send FirstGroup 24.25p lower to 274.5p, while National Express fell 25.25p to 327.25p.