Posted 9th May 2024 | No Comments

Thursday briefing: Alstom plans to raise 1bn

Alstom cash call
Train maker Alstom is hoping to raise a billion Euros (£860 million) from its investors in a bid to reduce its debts. Alstom had warned that its factory in Litchurch Lane Derby was facing closure, but it may have been rescued by an order for 10 Elizabeth Line trains which would be used to enlarge the existing Derby-built fleet. Alstom is also planning a bond issue worth €750 million.

Underground alarm

Anxious passengers broke windows to escape from a tube train stalled at Clapham Common station in south London on 5 May last year, the Rail Accident Investigation Branch has reported. The passenger alarm had been used after smoke and a burning smell had been noticed on board the train, only part of which was on the platform. Staff began opening the doors about four and a half minutes after the train had stopped, but a few passengers were slightly hurt during their bid to escape. The RAIB found that ‘they did not receive suitable information or see any effective action from London Underground staff’.

HS2 Euston cash
Labour has criticised the government following reports that £1 billion in public money could be spent on the HS2 development at London Euston. Shadow transport secretary Louise Haigh said: ‘Last year the Prime Minister took to the conference stage and promised Euston would be privately financed – a promise he knew he could not keep. Now, as a result of his dishonesty and delay, even more taxpayers' money is being added to the woefully mismanaged HS2 bill. Ministers urgently need to clarify where this funding will come from, and why they failed to consider this cost when making decisions around HS2.’

Railway 200 website
The industry initiative Railway 200 has launched a new website giving more details about next year’s festival, which is timed for the 200th anniversary of the opening of the Stockton & Darlington Railway and will celebrate the railway – past, present and future. An exhibition train is set to tour Britain during 2025, and local organisations around the country are being invited to take part in the event.