Eversholt, Beacon Rail Leasing Provide $333MM for Rail Operator



TransPennine Express (TPE), the intercity rail operator for the North and Scotland announced the purchase of a further 126 brand new carriages.

TPE will deliver an investment of more than £230 million ($333 million) in 25 brand new five-carriage trains which will be in service across the network by 2019.

The agreement will see the introduction of two new fleets, which are 12 five-carriage Civity UK InterCity electric trains financed by Eversholt Rail and 13 sets of five-car InterCity carriages financed by Beacon Rail Leasing.

The new franchise began on 1 April 2016 with a commitment to invest more than £500 million ($725 million) in the rail network and today’s announcement follows an earlier agreement to buy 19 new five-carriage bi-mode (capable of operating by diesel and electric power) trains from northern based manufacturer, Hitachi Rail Europe.

The new train fleets will provide an extra 13 million seats a year, which is enough to fill the Old Trafford stadium more than 150 times.

In total, the 44 brand new state of the art trains will supplement TPE’s current fleet and will more than double capacity on all intercity routes across the North and into Scotland, by 2019. The vast majority of services will operate with at least five carriages as opposed to the current three.

Mary Kenny, chief executive officer of Eversholt Rail Group, said: “Eversholt Rail is delighted to be supporting this expansion of the TransPennine Express network by investing £120m ($174 million)in its new fleet of CAF Civity trains. These trains will bring major improvements for passengers on services between Manchester and Scotland.  We look forward to working closely with our partners to introduce the new fleet into service over the next three years.”

Ted Gaffney, chief executive officer of Beacon, said, “Beacon is very pleased to provide a locomotive hauled coach solution to TransPennine Express. This transaction is in line with our strategy, growth ambitions, and our commitment to providing state of the art rolling stock to the UK market.”


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