c2c set to be sold to Italian rail company as National Express quits UK rail
PUBLISHED: 16:48 11 January 2017 | UPDATED: 17:17 11 January 2017
The c2c rail operator is set to be sold by National Express to Italian firm Trenitalia for £70 million.
The sale of c2c which serves commuters travelling between Essex and London’s Fenchurch Street station could be completed in the next three of four weeks, subject to the green light from the Department of Transport.
Trenitalia has also announced its intention to retain all of c2c’s existing management and staff.
CEO of the National Express group, Dean Finch, said: “National Express has been immensely proud of c2c’s transformation on our watch. From converting c2c into the UK’s consistently best performing franchise, we have also recently pioneered customer service standards with automatic delay compensation and flexi-season tickets, for example.
“While this has, therefore, not been an easy decision, the board believes the transfer of c2c to Trenitalia UK presents opportunities for all concerned.
“We have been impressed by the commitment and interest shown by Trenitalia and are grateful for the support shown by DfT in this process.
“Trenitalia has significant rail credentials and is excited by the opportunity to invest in the new agenda set out by the Secretary of State.”