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Government throws £20m at Go-Ahead's Southern problem

Thu, 01st Sep 2016 12:47

(ShareCast News) - Westminster sent in a so-called 'hit squad' to deal with the struggling Southern Railway franchise on Thursday, as passengers continued to face severe disruption on the ailing operation.Transport Secretary Chris Grayling has given a team of "experienced figures" from the rail industry a budget of £20m to spend on improvements, including staffing at major stations and faster track upgrades."I want the Southern network to be run by a team of people who work together to make sure passengers get decent journeys and that problems are dealt with quickly," Grayling said in the Evening Standard, referring to the blame-game played by Southern and track operator Network Rail over infrastructure issues and delays.The squad will be headed by 30-year railwayman Chris Gibb, who was the former chief operating officer at Virgin Trains.Of the £20m, £2m has been earmarked for more rapid response teams to fix faults, £2.5m on faster maintenance of trains, £0.8m for additional signal supervisors and £0.09m on damage prevention at bridges.Additional staff will be posted at major stations, including Gatwick Airport and East Croydon, to ensure trains are dispatched on time.A passenger representative will also join the franchise review board, in a bid to give the long-suffering commuters of Southern a voice.The measures may not amount to much for passengers, however, as the railway unions continue their campaign against changes being made by Southern to the role of guards.Guard members of the RMT union are considering another 48-hour strike, and station staff are planning a 24-hour strike to protest the closure of ticket windows.Southern's woes began in April, when the company blamed severe staff shortages on high numbers of guards phoning in sick.But the unions strenuously denied this, saying their members were being denied overtime work - which the franchise relies on to operate a full timetable - in retaliation for an earlier strike.The franchise is part of Govia Thameslink Railway - majority-owned by Go-Ahead Group, which has previously issued a profit warning for the financial year as a result of the ongoing difficulties with Southern.
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17 Mar 2022 08:16

LONDON BRIEFING: Deliveroo loss widens but pedalling toward breakeven

(Alliance News) - Food delivery firm Deliveroo on Thursday said 2021 was a year of strong growth and strategic progress, which it believes will lead to long-term profitability.

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9 Mar 2022 11:41

IN BRIEF: Go-Ahead hires Royal Mail UK interim CFO as finance chief

Go-Ahead Group PLC - Newcastle, England-based public transport operator - Hires Sarah Mussenden to be chief financial officer, starting May 9. Mussenden currently is interim CFO at Royal Mail UK, part of Royal Mail PLC. Previous roles were at British Gas, part of Centrica PLC, and British Airways, part of International Consolidated Airlines Group SA. She currently is a non-executive director of asset manager Premier Miton Group PLC. At Go-Ahead, Mussenden will replace Interim CFO Gordon Boyd.

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24 Feb 2022 16:35

Go-Ahead expects to pay GBP30 million penalty amid "challenging" year

(Alliance News) - Go-Ahead Group PLC said on Thursday that it had narrowed its pretax loss but noted issues with the UK Department for Transport regarding its London & South Eastern Railway operations.

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24 Feb 2022 10:11

Go-Ahead records 'strong' performance in long-delayed results

(Sharecast News) - Go-Ahead Group reported a "strong" financial performance in its bus and Govia Thameslink Railway (GTR) operations in its much-delayed full-year results on Thursday, offset by challenges in its international rail division and its former Southeastern rail franchise.

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24 Feb 2022 08:15

LONDON BRIEFING: Warren East to depart as CEO of improving Rolls-Royce

(Alliance News) - Rolls-Royce on Thursday said Chief Executive Officer Warren East has decided to step down at the end of 2022, after nine years on the board and almost eight years as CEO.

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23 Feb 2022 09:51

IN BRIEF: Go-Ahead to release delayed annual results on Thursday

Go-Ahead Group PLC - Newcastle-based bus and train operator - Plans on Thursday to release its delayed results for the financial year that ended July 3 last year. At that point, Go-Ahead will ask for the suspension of trading of its shares and corporate bonds to be lifted. The suspension was imposed because the company missed the deadline for filing its accounts. The delay was to allow auditors Deloitte to consider the implications of a review of the London & South Eastern Railway franchise, operated by Go-Ahead. The UK government found that "serious errors" were made by LSER in its dealings with the Department for Transport over several years. Go-Ahead apologised for "failing to notify the DfT of certain overpayments or monies due to the DfT", but the government is considering enforcement action, including a financial penalty.

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31 Jan 2022 15:28

Moody's withdraws British rail firm Go-Ahead's rating

LONDON, Jan 31 (Reuters) - Moody's has withdrawn its credit rating of UK rail and transport firm Go-Ahead after the company delayed the publication of its financial results for a fourth time, the ratings agency said on Monday. "Moody's has decide...

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24 Jan 2022 10:02

IN BRIEF: Go-Ahead expects annual results release end February

IN BRIEF: Go-Ahead expects annual results release end February

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24 Jan 2022 09:00

Go-Ahead results delayed again as auditors ask for more time

(Sharecast News) - Crisis-hit transport group Go-Ahead on Monday delayed publication of its financial results for a third time as investigations continue into its rail franchise scandal.

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19 Jan 2022 15:18

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

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4 Jan 2022 14:02

Go-Ahead shares suspended due to late-running results

(Sharecast News) - Go-Ahead Group made a request for its shares and bond to be temporarily suspended from trading on Tuesday, pending its results for the year ended 3 July.

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4 Jan 2022 10:34

IN BRIEF: Go-Ahead suspends listing on annual results delay

IN BRIEF: Go-Ahead suspends listing on annual results delay

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21 Dec 2021 21:40

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

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20 Dec 2021 16:21

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

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15 Dec 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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