Report finds encouragement of overbidding led to Vtec’s failure to pay premiums

The Department for Transport failed to conduct “appropriate due diligence” on a bid to run the troubled East Coast rail franchise, a report by MPs has found.

In June, Virgin Trains East Coast (Vtec) became the third company in just over a decade to have its contract to run the east coast mainline prematurely terminated, after anticipated revenue and passenger growth failed to materialise.

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Read More MPs criticise DfT’s lack of scrutiny of East Coast rail franchise bid

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