Virgin asks Angel to get it rolling
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Virgin Rail is in discussions to draft in Angel, the privatised rail leasing company, to assist with the procurement of the country's biggest ever rolling stock order.
Industry sources say Angel will be invited to join a dedicated rail procurement team that Virgin is establishing in readiness for an pounds 800m order to refit its fleets serving the West Coast main line and Cross Country franchises.
A Virgin spokesman said: "We are in talks with Angel and believe it has expertise to offer in the procurement arena."
However, the spokesman stressed that Angel's involvement in procurement would not give it any advantage in the final leasing deal, which will be put out to tender.
"There will be open competition for the final overall financial package," the spokesman said.
However, one industry source said that while all the rail leasing companies would be free to tender, it was unlikely that the deal will be won by a single company.
"Virgin has been extremely innovative so far and with such a big order it is more likely that a rather different kind of grouping than a conventional leasing company will be successful," he said.
A new consortium could be formed which may include the train operator, the manufacturer, rail leasing company and financial institutions. Invitations from manufacturers to tender for the order are expected this summer, with final completion of the deal - including the financing - to be in place in the first half of next year.
So far, around 10 manufacturers are thought to be interested in bidding for the Virgin order, which is set to include a variety of locomotives and integrated rolling stock, which will serve the two franchises the company operates.
Two-thirds of the order will be for the West Coast Main Line and will feature the tilting trains that Virgin plans to use to cut journey times dramatically. The journey from London to Glasgow, which currently takes over five hours, could be done in under four hours with the new trains.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments