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Anglia Railways parent company GB Railways has concluded an agreement on compensation to be paid by Railtrack to GB Railways, relating to the disruption caused to train services by the speed restrictions, which followed the Hatfield accident last October.
Train operators suffered a substantial negative financial impact on their businesses over a 6 month period after the incident, because of the service disruption and series of revised timetables which followed the Hatfield accident - due to the imposition of speed restrictions until additional track work was completed.
The agreement will assist Anglia Railways in the ongoing provision of promotional offers and discounted fare deals this summer, as well as continuing to invest in improved service standards and performance.
Under the deal GB Railways receives £925,000 from Railtrack to cover all its subsidiary companies including Anglia Railways and Hull Trains. Anglia Railways has already paid out over ?[[?]] million in compensation to customers and suffered a loss of income estimated to be a seven figure sum.
Commenting on the financial settlement Tim Clarke, Anglia Railways’ Managing Director said:
“The financial deal agreed with Railtrack enables us to draw a line under the unfortunate period which affected us and our passengers for 6 months after the Hatfield accident. With the normal timetable restored, and the new summer timetable in place (with a number of associated improvements), passengers can travel with confidence and enjoy the benefits of high quality train travel.”
Railnews Archive ::: 2001-06-28 ANG-001
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