(09/04/2013 13:28)Southernsofty Wrote: [ -> ]With the exception of Dagenham, all of First London has been sold, 5 depots to Metroline the remaining 3 to a bank.
First get to pocket @ £80M.
First don't get to pocket £80M, the banks do!!
Not surprised by the sale but I’m surprised Westbourne Park hasn’t gone to Metroline with the majority of First’s West London operations unless they’re trying to avoid complications with the competition authorities. Transit Systems Group are an interesting newcomer to London/UK and I wonder whether they’ll be around in the long run. When Macquarrie took over Stagecoach London it sort of seemed they were looking to sell the operation on so perhaps this may be the case here with perhaps the East London operations going to Stagecoach and Westbourne Park eventually going to someone like Abellio or London United (RATP)?
I don’t think First will cascade much (if any) of the ex-London stuff to it’s provincial operations as there’s only a few Trident/Presidents left and most other midi’s and decker’s are fairly modern. The B7/Gemini’s are a possibility however they were only refurbished 18-12 months ago and may be kept to see out the contracts held for routes 28/31/328 that they mainly operate on – especially if the awful Borismaster goes on those routes.
Be interesting to see if First decide to any more operational sell off’s as Essex, Slough/Berkshire, Leicester/Northants, Devon and maybe one or two others could be on the agenda to go before this ‘restructuring’ is complete. Maybe even First could be swallowed up in the near future too?
There are further disposals to come.
Transit Systems Group aren't a bank like Macquarie, so I'd expect them to stay in London for the long term.
This does indeed bring First towards their £100m disposal target. There are hints that DM will join First Essex and be kept as a base for rail replacement services, and I expect more London bus tenders, especially if Stagecoach or go-Ahead become too big in London. This takes First back to 1995-97 in the sense that their only London operation will be an extension of First Essex Buses, then Thamesway.
I notice that Metroline will now have adjacent ex-LBL companies London Northern and most of CentreWest. This was not what the government at the time intended or allowed for. Furthermore, Metroline have also absorbed Atlas Bus, R&I Tours, London Suburban Bus, London Buslines, FE Thorpe, Thamesway route 214 and nearby Armchair. I therefore wonder whether TfL and the competition authorities will really approve this takeover. Mind you, the sale of DM, X and AS means Metroline only operate one extra central London route, namely route 18.
The latest I have heard is that the TfL contracts will transfer to their new owners on June 22nd. Coincidentally, this is the date for the planned conversion of route 24 to LT operation. Maybe Metroline could stamp their identity on their new central London route 18 by transferring some 62-reg VWs from route 24 to route 18 at WJ, and in return sending some 60-reg VNs from WJ to HT to replace more VPLs!