The Department for Transport announced today NXEC Trains Ltd, a subsidiary of National Express Group, have been awarded the contract to operate services on the InterCity East Coast rail franchise.

National Express beat off strong competition from Arriva, First Group and a joint venture between Virgin Trains and Stagecoach to become the new rail operators on the London to Scotland route. The seven-year contract will start on the 9 December 2007 and will run until March 2015.

NXEC Trains will contribute payments with a net present value of £1.4 billion GBP during the franchise towards the Department for Transports’ rail budget.

Operis provided financial model due diligence services on behalf of National Express.

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