NEG loses East Coast as Bowker Quits

July 1st 2009

NEG loses East Coast as Bowker Quits
National Express East Coast is to be taken back into public ownership after NEG agreed to hand back the keys. Chief Executive Richard Bowker is understood to be quitting the troubled transport giant for a new job as head of Union Railways in the United Arab Emirates. NEG has been in discussions with the DfT for the last few weeks but failed to renegotiate the terms of its billion pound franchise payments. ‘The government is not prepared to renegotiate rail franchises because I'm simply not prepared to bail out companies that are unable to meet their commitments,' says Secretary of State for Transport, Lord Adonis. NEG is understood to have turned down a take over bid by First Group. The fate of East Anglia and c2c looks uncertain.

---

Subscribe or spread the word:

• More Bowker NEG news articles