Monday, November 27, 2006 at 3:03 pm

GNER Franchise Cancelled

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In the wake of GNER‘s filing for bankruptcy last month, the British government has agreed to tear up the £1.3-billion franchise agreement under which GNER operated trains from London to Edinburgh and in northeastern England. GNER, which admits overbidding for the franchise, will continue to operate trains in the meantime — for up to two years — on a “fixed-management-contract basis.” News coverage: Forbes, Reuters, Scotsman, The Times.

Previously: British Rail Franchising Questioned.

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