Shorter franchises could increase risk for UK rail operating lessors

Revised franchising practices outlined by the Strategic Rail Authority (SRA), the body responsible for overseeing the rail network in the UK, could change the environment for UK train lessors. The SRA released its new Franchise Policy Statement in early November outlining shorter franchises and grea...

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Bibliographic Details
Published in:Asset Finance International 2004-03, p.1
Format: Article
Language:English
Subjects:
Fares
Franchisees
Franchising
Government agencies
Leases
Leasing
Lessors
Railway networks
Risk assessment
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Summary:Revised franchising practices outlined by the Strategic Rail Authority (SRA), the body responsible for overseeing the rail network in the UK, could change the environment for UK train lessors. The SRA released its new Franchise Policy Statement in early November outlining shorter franchises and greater accountability for train operating companies, but what it did not outline was the impact that policy would have on the lessors of rail rolling stock, such as Angel Trains and Porterhouse. Jonathan Manley, an analyst at Standard & Poor's, explains that the result could be increased risk for lessors.
ISSN:1367-8086