FirstGroup finalises $636m deal with Hitachi and Angel Trains [Yahoo! Finance]
FIRSTGROUP PLC UNSP/ADR (FGROY)
NASDAQ:AMEX Investor Relations:
firstgroupplc.com/investors.aspx
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Source: Yahoo! Finance
The contract includes maintenance over a ten-year lease period, with the trains to be manufactured by Hitachi in County Durham. The new Hitachi trains will operate on the newly announced London to Carmarthen route and will add capacity to the East Coast mainline's Hull trains and Lumo services. The investment aligns with FirstGroup's strategic goal to grow its open-access capacity and ensure a homogenous fleet. FirstGroup CEO Graham Sutherland stated: “The introduction of our new service between London and Carmarthen, and the extra capacity on Lumo and Hull trains, will significantly increase our open access portfolio over the next few years, with further expansion possible should our recent applications be successful.” The order is expected to commence delivery by late 2027. Angel Trains will finance the lease, adding these assets to its portfolio. The agreement includes an option for FirstGroup to lease up to 13 additional trains if its open-access applications are approv
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