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Stagecoach Confirms New East Midlands Trains Franchise With DfT - Quick Facts

Transport company Stagecoach Group plc (SGC.L) confirmed Tuesday that its subsidiary, East Midlands Trains Limited, has agreed a new short-term rail franchise with the Department for Transport or DfT.

The new franchise will commence on March 3, 2019 and run until at least August 18, 2019. The DfT has the discretion to extend the franchise by up to 24 weeks on terms that have been agreed.

Under the new agreement, customers and communities will continue to benefit from a range of improvements. These include supporting the delivery of the 1.5 billion pounds Midland Main Line upgrade to improve capacity and reduce journey times, among others.

In addition, East Midlands Trains will be focused on ensuring readiness for the new franchise, including helping to put in place plans for extra seats from 2020.

Under the terms of the new contract, revenue risk will sit primarily with the DfT. East Midlands Trains expects to earn a modest profit under the contract and a profit sharing arrangement with the DfT will apply.

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