As passengers stay home, UK rail operators ask for bailout [Reuters]
FIRSTGROUP PLC UNSP/ADR (FGROY)
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Source: Reuters
As passengers stay home, UK rail operators ask for bailout LONDON (Reuters) - Companies running rail services in Britain have asked the government for a financial bailout as Britons increasingly work from home to avoid spreading coronavirus, sending passenger numbers plunging, a source told Reuters. Passenger numbers have fallen by about 18% on some lines, according to anecdotal early evidence from the rail industry, as the formal data is not yet available, putting the viability of some rail contracts at risk. Many Britons are working from home instead of commuting. State-owned Transport for London (TfL) said on Monday that passenger numbers on London’s Underground network fell 19% in the week starting March 2 in response to coronavirus. Britain’s privatized rail network is split into areas with the government contracting out services. Some of the contracts rely on passenger numbers growing to meet their financial commitments and could face failure as a result of coronavirus. Companie
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